JMP Securities raised the firm’s price target on Upwork to $17 from $16 and keeps an Outperform rating on the shares. Upwork reported strong Q4 results, with Gross Services Volume, revenue, and EBITDA coming in 5%, 3%, and 11% above consensus, respectively, the analyst tells investors in a research note. Upwork is operating its business well in this climate as it continues to optimize costs and increase monetization, while investing in new growth areas like AI, the firm adds.
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