Upwork price target raised to $20 from $18 at Citizens JMP

Citizens JMP raised the firm’s price target on Upwork (UPWK) to $20 from $18 and keeps an Outperform rating on the shares. solid year for the company and the stock. Upwork is testing a variable freelancer fee structure, which Citizens JMP believes can drive take rate expansion beyond current expectations, and ultimately help the business achieve its long-term 35% EBITDA margin target, the analyst tells investors in a research note. The firm’s scenario analysis suggests it could drive 2026 EBITDA 19%-43% higher than current consensus projections.