After JMP Securities raised its price target to $27, Wall Street gave Upwork Inc., the worldwide freelance marketplace, a new confidence vote and reaffirmed a Market Outperform designation. The updated forecast suggests increasing hope for the company’s corporate projects and the expanding deployment of artificial intelligence on its platform.
JMP Securities’ thesis revolves around Lifted, Upwork’s corporate solution
The brokerage also noted other growth drivers: the launch of a variable freelancer fee structure, growing demand for AI-related services, and improvements for Upwork Inc gross services volume (GSV)
Alongside these recommendations, Upwork has been engaged on the corporate front. Emphasizing management’s faith in the firm, its board authorized a $100 million share buyback plan. Effective September 2, the business also unveiled Anthony Kappus
Furthermore, uncertain is the adoption of novel pricing models since changes in the market economy might need time to reconcile. Despite the obstacles, JMP’s recent call shows a belief that Upwork is starting a new stage when corporate contracts, artificial intelligence services (Google AI Plus
