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It's been a remarkable couple of weeks for equities, no doubt about it. The broad rally that started at the end of October has already sent many stocks to all-time highs, and as we head into 2024, the benchmark S&P 500 index is on the verge of doing the same.
Upwork (UPWK) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
The returns can be massive when you can scoop up shares on the cheap before the rest of the market catches on. Of course, separating the wheat from the chaff is easier said than done.
Upwork has partnered with companies like Adobe and Amazon to build its AI service hub. Artificial intelligence is the fastest-growing employment category in its marketplace.
The gig economy is reshaping work, with Fiverr leading the charge. Artificial intelligence poses an opportunity, not a threat, for this company's business model.
Upwork. Inc. NASDAQ: UPWK has been pursuing its goal of being the world's preeminent destination for artificial intelligence (AI) related talent and freelance work. The business services sector company is directly capitalizing on the AI trend to help it achieve sustained GAAP profitability.
Upwork Inc. and Fiverr International Ltd. are often compared as competitors in the freelance space, so we take a look at them to see which is the better stock now. Upwork's share price has performed better than Fiverr's, perhaps indicating it is a more promising investment. In a low interest rate environment, valuation is less important, but in a normalized interest rate environment, investors need to consider future cash flows and the price they are paying.
Upwork (UPWK) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Upwork (UPWK) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
ACGL, UPWK, BUR, AREC and LEU have been added to the Zacks Rank #1 (Strong Buy) List on November 20, 2023.