In a report released today, Ronald Josey from Citi maintained a Hold rating on Upwork, with a price target of $19.00.
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Ronald Josey has given his Hold rating due to a combination of factors that emerged from Upwork’s Investor Day. The company’s strategy around artificial intelligence, along with its focus on small and medium-sized businesses and enterprise opportunities, has shown promise. Upwork’s AI-related gross services volume is expected to reach $300 million by 2025, which signifies a significant shift towards larger and higher quality projects.
Despite these positive developments, including better-than-expected targets for 2028 and slightly improved guidance for 2026, Josey maintains a cautious stance. The Neutral/High Risk rating and the price target of $19 are held as he seeks further clarity and visibility in Upwork’s performance. The progress is encouraging, but more evidence of sustained growth and stability is needed before a more favorable rating is considered.
According to TipRanks, Josey is a 5-star analyst with an average return of 19.4% and a 56.08% success rate. Josey covers the Communication Services sector, focusing on stocks such as Alphabet Class A, Meta Platforms, and Zillow Group Class A.
In another report released on November 5, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $19.50 price target.