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Upwork Inc(UPWK)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
1-STAR RATING
PASS
LAST CLOSE
$8.35
09/18/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Advisory Performance History (Simulated)Advisory Performance History info

Upturn Advisory & Investor View for UPWK

09/18/2026: UPWK (1-star) is currently NOT-A-BUY. Pass it for now.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Price Behavior

Steep Decline
PRICE PATH

Steep Decline

The stock price has dropped sharply with strong downward pressure.

Choppy
PRICE STABILITY

Choppy

The stock has experienced frequent reversals and pronounced short-term price swings.

Analysis of Past Performance

Type Stock
Historic Profit -13.22%
Avg. Invested days 33
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 2.0
Stock Returns Performance Upturn Returns Performance icon 1.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/18/2026

Upturn Scorecard

Upturn Star Rating

UPWK receives a 4-star rating, supported by strong unit economics, solid company fundamentals, and solid analyst coverage. The rating is constrained by weak price momentum.

Company Fundamentals

UPWK has solid overall fundamentals (4 stars), with solid financial health, moderate growth momentum, and strong ownership. In FY2025 versus FY2024, strong cash generation (FCF margin 30.8%) and solid profitability (net margin 14.7%) are partially offset by negative earnings growth (-46.5%), moderate revenue growth (+2.4%).

Financial Health Rating

UPWK's financial health is supported by solid liquidity, including working-capital and asset support (WC/assets 23.1%). Profitability is moderate (3 stars), which helps explain the 4-star overall score.

Growth Momentum Score

Free-cash-flow growth is UPWK's strongest growth driver at +74.3% FY2025 versus FY2024 (strong, 5 stars). By comparison, while revenue growth (+2.4%, moderate) and earnings growth (-46.5%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

Institutional ownership is 104.6% and approximately 89.0% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 5.19% supports management-shareholder alignment.

Top 5 Institutional Investors

BlackRock Inc 15.10%
T. Rowe Price Associates, Inc. 13.96%
Vanguard Portfolio Management, LLC 6.22%
Ancient Art, L.P. 5.79%
LSV Asset Management 5.11%

Unit Economics (Per $1K Revenue)

UPWK generates approximately $778 of gross profit, $164 of operating income, and $308 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

Effective Tax Rate: 24.65%

Quantitative Style Profile

UPWK has a high-quality, liquid profile. Weak momentum is the primary drawback.

Style Classification

Quality Focused

Value-OrientedQuality TiltSmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 1.04B USD
Price to earnings Ratio 10.71
1Y Target Price 9.88
Price to earnings Ratio 10.71
1Y Target Price 9.88
Volume (30-day avg) 3.5M shares
Beta 1.01
52 Weeks Range 7.44 - 22.84
Updated Date 09/19/2026
52 Weeks Range 7.44 - 22.84
Updated Date 09/19/2026
Dividends yield (FY) -
Basic EPS (TTM) 0.78

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

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Valuation

Trailing PE 10.71
Forward PE 5.61
Enterprise Value 805.53M
Price to Sales(TTM) 1.32
Enterprise Value 805.53M
Price to Sales(TTM) 1.32
Enterprise Value to Revenue 1.02
Enterprise Value to EBITDA 5.27
Shares Outstanding 124.90M
Shares Floating 111.22M
Shares Outstanding 124.90M
Shares Floating 111.22M
Percent Insiders 5.19
Percent Institutions 104.56

Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Upwork Inc

Exchange NASDAQ
Headquarters Palo Alto, CA, United States
IPO Launch date 2018-10-03
President, CEO, Interim Principal Financial Officer & Director Ms. Hayden Brown
Sector Communication Services
Industry Internet Content & Information
Full time employees 630
Full time employees 630

Upwork Inc., together with its subsidiaries, provides platforms and workforce solutions that connect businesses with freelance, agency, fractional, and payrolled talent in the United States, the Philippines, India, Pakistan, and internationally. The company offers Upwork Marketplace, a human and AI-powered work marketplace that connects businesses with on-demand access to independent talent across a range of categories, including AI-related projects, administrative support, sales and marketing, design and creative, and customer service, as well as web, mobile, and software development. Its marketplace also streamlines workflows, such as talent sourcing, outreach, contracting, and engagement management, as well as provides infrastructure for remote collaboration, including communication and collaboration tools, consolidated invoicing, and payment protection; and Upwork Payroll services. It also offers enterprise solutions that provide access to platform capabilities that support contingent workforce solutions, including sourcing, onboarding, classification, compliance and contract management, payments, and reporting. In addition, the company offers managed services that provide a service-led program management and end-to-end project delivery solution that enables enterprise clients to outsource defined functions or projects; Uma, an AI assistant; and escrow services. The company was formerly known as Elance-oDesk, Inc. and changed its name to Upwork Inc. in May 2015. Upwork Inc. was founded in 1998 and is headquartered in Palo Alto, California.