Upwork (UPWK) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Although the revenue and EPS for Upwork (UPWK) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Upwork (UPWK) Q3 Earnings and Revenues Surpass Estimates
Upwork (UPWK) came out with quarterly earnings of $0.29 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.21 per share a year ago.
Upwork Fortifies Profitability Plan With Raised Q3 Forecasts
The world's largest digital freelance platform, Upwork Inc. NASDAQ: UPWK, took proactive measures ahead of its upcoming third quarter of 2024 earnings release due out Nov. 6, 2024. The company preannounced upside Q3 guidance along with organizational changes in its efforts to drive profits.
Why Upwork Stock Was Racing Higher This Week
Upwork might soon be a slimmer, more effective, and profitable company.
Upwork Vs. Fiverr: AI Fears Likely Overblown, Fiverr Looks More Attractive
Upwork and Fiverr have seen steep declines due to concerns over slowing revenue growth, partly driven by AI replacing some freelancing services. While AI has reduced demand for simple tasks like logo design, it has boosted freelancer productivity and created new service opportunities. Both platforms are attractively priced, but Fiverr stands out with better engagement metrics, higher gross margins, and strong app ratings.
Upwork (UPWK) Soars 26.7%: Is Further Upside Left in the Stock?
Upwork (UPWK) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
Why Upwork Stock Is Skyrocketing Today
Upwork just published preliminary Q3 results and major restructuring news -- and Wall Street is feeling very bullish about the update.
Upwork: A Small Bet Activist Pressure Will Succeed
Today, we take a look at Upwork, Inc. after Engine Capital recently initiated a 3.5% stake in the firm amid criticism of management's strategic direction. Despite macroeconomic challenges and AI concerns, Upwork's simplified fee structure and cost-cutting measures improved take rates and profitability in FY23. Upwork's strong cash flow and low valuation multiples highlight its potential for long-term growth, despite AI fears and competitive pressures.
Upwork: Good Value And How We Can Further Add Extra Income
Upwork, the leading freelancing platform with a 31-32% market share, benefits from two-sided network effects, attracting both freelancers and employers. Despite a challenging environment, Upwork maintains strong financials, expects 7.5% revenue growth this year and increasing profitability next years due to operational leverage. Fair Value derived through a DCF model is $13.37 with WACC = 10.5% and perpetuity growth of 3%, pointing to 28% upside from the current price.
Activist investor Engine Capital pushes for new board at Upwork after taking 4% stake
Engine Capital has a roughly 4% stake in freelance marketplace Upwork and is pushing the company to shake up its board. In a letter to the board on Friday, Engine said Upwork needs to fix the "foundational issues" plaguing the platform.
1 Ridiculously Undervalued Growth Stock Down 85% to Buy Hand Over Fist Right Now in August (2024)
The rising effectiveness of artificial intelligence is creating downward pressure on this company's stock price.
Upwork: The Selloff Is Overdone
Shares of Upwork have dropped sharply since reporting Q2 results and lowering its revenue guidance for FY24, citing softer macro trends that are impacting small businesses. Despite the top-line guidance cut, the company held its adjusted EBITDA outlook and even slightly increased its EPS forecast. In Q2, Upwork saw y/y growth in active clients, while rival Fiverr declined. Upwork's growth is outpacing its key rival, indicating market share gains.
