Roth MKM analyst Rohit Kulkarni lowered the firm’s price target on Upwork (UPWK) to $19 from $20 but keeps a Buy rating on the shares. The company’s execution and profitability have stepped up, and the firm sees several growth catalysts ahead, including AI gigs, Enterprise, and Advertising monetization, the analyst tells investors in a research note. Roth adds however that bears would point to take rate expansion that is expected to be more measured in 2025 vs. 2024 and Enterprise additions having slowed in Q4.
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