Canaccord analyst Maria Ripps raised the firm’s price target on Upwork (UPWK) to $24 from $22 and keeps a Buy rating on the shares. The firm attended the company’s investor day wherein much of the discussion centered around AI and its potential impact on the platform. Management addressed one of the key investor concerns about AI pressuring the job market and freelancer demand head on, providing compelling evidence that ongoing efforts to create a more AI-native marketplace are driving incremental GSV gains, and that demand for AI-specialized talent is growing as AI is increasingly embedded into daily workflows.
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Read More on UPWK:
- Upwork’s AI-Driven Growth and Strategic Expansion Justify Buy Rating
- Upwork sees 2026 revenue growth 6%-8%, adjusted EBITDA margin 29%
- Upwork sees 13%-15% three-year revenue CAGR
- Upwork to open first international operational hub in Portugal
- Upwork price target raised to $22 from $19 at Roth Capital