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Upwork:Quarterly Results/2023 Q2: Difference between revisions
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* Lowered price target to $13 from $15 and maintained buy rating. | * Lowered price target to $13 from $15 and maintained buy rating. | ||
* "AI will continue to be an overhang in the "knowledge" space, and '''while the firm's work continues to suggest that a neutral or even positive net impact on freelancing from AI is possible, nothing can be ruled out as the technology evolves,'''" he wrote<ref>https://thefly.com/landingPageNews.php?id=3738006&headline=UPWK-Upwork-price-target-lowered-to--from--at-BTIG&utm_source=https://thefly.com/news.php%3fsymbol=UPWK&utm_medium=referral&utm_campaign=referral_traffic</ref>. | * "AI will continue to be an overhang in the "knowledge" space, and '''while the firm's work continues to suggest that a neutral or even positive net impact on freelancing from AI is possible, nothing can be ruled out as the technology evolves,'''" he wrote<ref>https://thefly.com/landingPageNews.php?id=3738006&headline=UPWK-Upwork-price-target-lowered-to--from--at-BTIG&utm_source=https://thefly.com/news.php%3fsymbol=UPWK&utm_medium=referral&utm_campaign=referral_traffic</ref>. | ||
=== Jimmy Monaco, Seeking Alpha === | |||
* Upwork is undervalued<ref>https://seekingalpha.com/article/4616903-upwork-the-future-of-upwork-looks-bright</ref>. | |||
* Competition( low barrier to entry risk). | |||
* The only company in the space that has monetized both ends of its business. | |||
* Between Q3 2019 and Q1 2023, talent revenue as a percentage of total revenue declined from 61% to 53% and client revenue as a percentage of total revenue is almost reaching parity with talent revenue. | |||
* Upwork can gain more active clients like Fiverr(4,263,000). | |||
* Enterprise opportunity: Enterprise growing 21% faster than marketplace business and its clients show more stickiness. | |||
* New pricing may hurt customer retention. | |||
== Competitor expectations and results == | == Competitor expectations and results == | ||