Piper Sandler Sees Sharp Upside In Upwork - Read Why - Upwork (NASDAQ:UPWK)

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.