Upwork Inc (UPWK) has disclosed a new risk, in the Share Price & Shareholder Rights category.
Upwork Inc.’s board authorized a $100 million Share Repurchase Program in November 2023, with the full amount still available for future repurchases as of the year’s end. However, the execution of this program is not guaranteed, nor is there a commitment to a specific repurchase volume or timeline. Concerns arise as such a program could potentially lead to increased stock volatility and reduced cash reserves, without assurance that it will bolster long-term shareholder value. Moreover, Upwork Inc. retains the flexibility to suspend, terminate, or modify the program at any time, adding uncertainty about its completion and impact.
Overall, Wall Street has a Moderate Buy consensus rating on UPWK stock based on 7 Buys and 4 Holds.
To learn more about Upwork Inc’s risk factors, click here.
