Upwork price target lowered to $18 from $19 at Citi

Citi lowered the firm’s price target on Upwork (UPWK) to $18 from $19 and keeps a Neutral rating on the shares. The company’s Q1 results came in better than expectations while its Q2 revenue guidance was in-line with the Street, the analyst tells investors in a research note. The firm is “encouraged” with the results, but says the macro environment continues to impact Upwork’s visibility. It believes the stock’s risk/reward remains balanced.