Upwork (UPWK) shares rallied 26.7% in the last trading session to close at $12.73. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.6% loss over the past four weeks.Upwork is benefiting from an enhanced enterprise strategy, strong demand for its services, and advancements in AI innovation. As a result, the company has increased its guidance to $194 million for its preliminary third-quarter 2024 results, surp ...

Upwork just published preliminary Q3 results and major restructuring news -- and Wall Street is feeling very bullish about the update.Upwork (UPWK 21.74%) stock is soaring in Wednesday's trading following the publication of preliminary third-quarter results. The gig-economy specialist's share price was up 22.6% as of 11 a.m. ET.Upwork published preliminary Q3 results before the market opened this morning, reporting performance that came in ahead of the market's expectations. In addition to the better-than-a ...

Approximately $60 million in annual cost savings advances Upwork toward 5-year profitability target Company expects to exceed revenue and adjusted EBITDA guidance for third quarter 2024 results SAN FRANCISCO, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Upwork Inc. (Nasdaq: UPWK) (“Upwork” or the “Company”), the world’s work marketplace that connects businesses with independent talent across the globe, today announced a more streamlined organizational structure and operational changes to continue the Company’s profita ...

SAN FRANCISCO, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Upwork Inc. (Nasdaq: UPWK), the world's largest work marketplace that connects businesses with independent talent from across the globe, today announced that it will report its financial results for the third quarter of 2024 on Wednesday, November 6, 2024 after market close. The company will host a Q&A conference call to discuss these results at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day. A live webcast of the call will be available on th ...

Group 1 - The global freelance platforms market is experiencing growth driven by the increasing need for change in employee hiring processes and the emergence of remote work culture [1] - The market size for freelance platforms is expected to grow significantly, indicating a shift in employment dynamics [1] Group 2 - The investment strategy discussed combines fundamental analysis with options trading, focusing on various investment styles such as income-oriented, growth at a reasonable price, deep value, and dividend aristocrats [1] - The analyst employs 20-25 different options strategies for purposes including hedging, bullish substitutes, neutral trades, trading volatility, and earnings-related trades [1]

SAN FRANCISCO, Oct. 09, 2024 (GLOBE NEWSWIRE) -- Upwork Inc. (Nasdaq: UPWK), the world's work marketplace that connects businesses with independent talent across the globe, today released its latest Work Innovators Report, revealing that companies integrating distributed work (remote, hybrid, and geographically dispersed models), flexible talent strategies (such as freelancers or contractors), and advanced technology (like AI or automation) are achieving better financial results compared to their peers. The ...

SAN FRANCISCO, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Upwork Inc. (Nasdaq: UPWK), the world's largest work marketplace that connects businesses with independent talent across the globe, today issued the following statement in response to a letter from Engine Capital to Upwork's Board of Directors: Upwork's Board of Directors and management team maintain an open dialogue with and value constructive input from investors. We continually evaluate options to enhance value and are committed to acting in the best inte ...

Core Viewpoint - Activist investor Engine Capital, holding a 4% stake in Upwork, is advocating for significant changes to the company's board and addressing foundational issues affecting the platform [1][2]. Group 1: Board and Management Concerns - Engine Capital has raised concerns about the oversight of management by Upwork's board, questioning the effectiveness of CEO Hayden Brown, who has seen three management teams in four years [2]. - The activist investor highlighted the frequent turnover in Upwork's executive team, noting that Brown has had three CFOs in the same period, which raises concerns about strategic clarity and focus [2][3]. - Engine Capital criticized the lengthy tenures of several Upwork directors, including Chairman Thomas Layton and Greg Gretsch, suggesting that their long service may hinder effective governance [2][3]. Group 2: Recommendations for Improvement - Engine Capital urged Upwork to simplify its platform to better compete with rival Fiverr, cut costs, and expand its enterprise business [3]. - The activist investor pointed out the lack of staffing industry experience among Upwork's directors, which may impact the board's effectiveness in guiding the company [3]. Group 3: Stock Performance - Upwork's shares have declined by 37% this year and are down approximately 85% from their peak in 2021, following a surge during the pandemic due to increased demand for freelancing services [4].

SAN FRANCISCO, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Upwork Inc. (Nasdaq: UPWK), the world's largest work marketplace that connects businesses with independent talent from across the globe, today announced that President and CEO Hayden Brown and CFO Erica Gessert will participate in a fireside chat at the Goldman Sachs Communacopia + Technology Conference in San Francisco, CA on Monday, September 9, 2024 at 8:50 a.m. PT/11:50 a.m. ET. A live webcast of the fireside chat will be available in the Events and Prese ...

Upwork (UPWK) came out with quarterly earnings of $0.26 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.10 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 13.04%. A quarter ago, it was expected that this online freelance marketplace operator would post earnings of $0.19 per share when it actually produced earnings of $0.22, delivering a surprise of 15.79%. Over the last four ...