Needham analyst Bernie McTernan has reiterated their bullish stance on UPWK stock, giving a Buy rating today.
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Bernie McTernan has given his Buy rating due to a combination of factors including Upwork’s recent financial performance and strategic initiatives. The company has reported better-than-expected results for the second quarter, which has contributed to a positive outlook.
Additionally, Upwork is showing promising signs of improvement in its Gross Services Volume (GSV) trends, particularly with growth in the AI category and the introduction of their own AI tools. These developments, along with the potential for operational leverage, suggest that there is significant upside potential for Upwork’s stock if the company continues to improve its GSV growth.
According to TipRanks, McTernan is a 4-star analyst with an average return of 7.8% and a 51.90% success rate. McTernan covers the Consumer Cyclical sector, focusing on stocks such as Super Group (SGHC), Flutter Entertainment PLC, and DraftKings.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $15.50 price target.