Upwork rises as Jefferies upbeat on GSV growth

Upwork

08/01/2024 13:20

**Freelancing platform Upwork's shares  UPWK.N  rise 3.4% to
$14.5 in premarket trading 
    ** Jefferies highlights co as top pick among small-cap U.S.
internet cos due to acceleration in gross service volume (GSV)
as macroeconomic conditions stabilize
    ** Upgrades stock to "buy" from "hold", raises PT to $20
from $13
    ** The new price target represents a near 44% upside to the
stock's last close
    ** Brokerage says co is benefiting from shift in labor to
more flexible force that can be managed remotely
    ** Seven of 11 brokerages rate the stock "buy" or higher,
four "hold;" median PT is $17.5 -LSEG data
    ** Stock rose ~42% in 2023

 (Reporting by Shristi Achar A)
 ((Shristi.AcharA@thomsonreuters.com
https://twitter.com/ShristiAchar;))