- Piper Sandler analyst Matthew Farrell initiated Upwork Inc UPWK with an Overweight rating and a price target of $40, implying an upside of 37.7%.
- The analyst believes in the broader market opportunity for talent marketplaces, even after the pandemic passes.
- He states that "several tailwinds, like The Great Resignation" and the move from offline to online, can drive growth over the next several years.
- Farrell believes Upwork's full suite of work solutions can help the company navigate a "variety of market conditions and help push further upmarket."
- Price Action: UPWK shares are trading lower by 1.50% at $28.96 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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