Upwork Inc. (UPWK) Q4 2024 Earnings Call Transcript
Upwork Inc. (NASDAQ:UPWK ) Q4 2024 Earnings Conference Call February 12, 2025 5:00 PM ET Company Participants Samuel Meehan - VP, IR Hayden Brown - President and CEO Erica Gessert - CFO Conference Call Participants Maria Ripps - Canaccord Andrew Boone - Citizens Stefanos Crist - Needham Brad Erickson - RBC Capital Markets Josh Chan - UBS Jared Osteen - ROTH Capital Partners John Byun - Jefferies Marvin Fong - BTIG Operator Good day, and thank you for standing by. Welcome to the Upwork Fourth Quarter and Full Year 2024 Earnings Conference Call.
Upwork (UPWK) Reports Q4 Earnings: What Key Metrics Have to Say
The headline numbers for Upwork (UPWK) give insight into how the company performed in the quarter ended December 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Upwork: Record Revenue, EPS Beat in Q4
Online work marketplace Upwork (UPWK 1.97%) reported fourth-quarter earnings on Wednesday, Feb. 12, that topped analysts' consensus top- and bottom-line expectations. Record-breaking quarterly revenue of $191.5 million surpassed estimates of $180 million and were up 4.1% year over year.
Upwork (UPWK) Beats Q4 Earnings and Revenue Estimates
Upwork (UPWK) came out with quarterly earnings of $0.30 per share, beating the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.20 per share a year ago.
Upwork: Operational Improvements And Labor Conditions Could Propel This One Higher
Upwork, the Coivd-era darling, has dropped from $60 per share to $16 on macro conditions and the threat of AI. I estimate 50% upside from current levels. Upworks model has significant potential for operational leverage, similar to those of Uber and AirBnB. While this potential has been realized by the latter two, Upwork still has potential. Current labor conditions and the threat of AI could be detrimental for Upwork. Yet, I believe a market with more churn, and project-based hiring, could be beneficial for Upwork.
Upwork stock price hits resistance as it faces key challenge
Upwork's stock price recovered in the fourth quarter after publishing encouraging financial results that showed that its business was still growing. The UPWK stock jumped to a high of $18, it highest level since August 2022, bringing its market cap to over $2.15 billion.
Is Upwork an Undervalued Growth Stock to Buy?
Upwork (UPWK 0.66%) is a gig economy stock that makes hiring employees more convenient.
1 Undervalued Growth Stock to Buy Before 2025
This platform business has increased revenue while improving profits.
UPWK Shares Rise 13% in a Month: Should Investors Buy the Stock?
Upwork has been benefiting from its AI-driven portfolio, accretive acquisitions and solid partnerships.
Upwork Shares Rise 17% YTD: How Should You Play the Stock?
UPWK shares benefit from expanding portfolio and increasing clientele. However, declining GSV revenue and macroeconomic uncertainty are headwinds.
Upwork: Disciplined Cost Reduction, Platform Improvements - Buy
I'm initiating Upwork with a buy, as I'm convinced by management's surgical approach to reducing costs while boosting profitability next year. The way I see it, Upwork has three things that'll work in its favor: disciplined cost reduction, scaling its reach, and new improvements to the platform using AI. UPWK also recently introduced a new Business Plus plan that adds another entry point to the platform with more affordable pricing and a smoother buying plan.
Surging Earnings Estimates Signal Upside for Upwork (UPWK) Stock
Upwork (UPWK) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
