Upwork expansion opens new addressable market, says Piper Sandler

Piper Sandler analyst Matt Farrell keeps an Overweight rating on Upwork after the company announced an expansion into the full-time hiring market with a new end-to-end solution. The product further solidifies the company’s position as one of the leaders in the world’s work marketplace, with no other major player in the space offering the end-to-end capabilities across the work gamut, the analyst tells investors in a research note. The firm says this morning’s news also unlocks a new total addressable market, as Upwork makes a broader push into the full-time hiring space.