Upwork price target raised to $18 from $16 at RBC Capital

RBC Capital raised the firm’s price target on Upwork (UPWK) to $18 from $16 and keeps a Sector Perform rating on the shares. The company’s Q4 results were “constructive”, with Enterprise revenue driving upside with solid improvements in the key accompanying metrics, take rates continued higher with more room to run, and significant margin expectation for 2025, the analyst tells investors in a research note. Upwork’s commentary also suggests that AI is proving to be a tailwind instead of a headwind, the firm adds.