Upwork (UPWK) Q3 Earnings: What To Expect

StockStory
2024-11-05
Upwork (UPWK) Q3 Earnings: What To Expect

Online work marketplace Upwork (NASDAQ:UPWK) will be reporting results tomorrow after the bell. Here’s what you need to know.

Upwork met analysts’ revenue expectations last quarter, reporting revenues of $193.1 million, up 14.5% year on year. It was a slower quarter for the company, with a miss of analysts’ GMV estimates and underwhelming revenue guidance for the next quarter. It reported 868,000 gmv, up 5.6% year on year.

Is Upwork a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Upwork’s revenue to grow 4.7% year on year to $184 million, slowing from the 10.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.25 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Upwork has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 2.2% on average.

Looking at Upwork’s peers in the gig economy segment, some have already reported their Q3 results, giving us a hint as to what we can expect. DoorDash delivered year-on-year revenue growth of 25%, beating analysts’ expectations by 1.8%, and Fiverr reported revenues up 7.7%, topping estimates by 3.4%. DoorDash’s stock price was unchanged after the results, and Fiverr’s price followed a similar reaction.

Read our full analysis of DoorDash’s results here and Fiverr’s results here.

There has been positive sentiment among investors in the gig economy segment, with share prices up 6.3% on average over the last month. Upwork is up 28.9% during the same time and is heading into earnings with an average analyst price target of $14.18 (compared to the current share price of $13.50).

Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefitting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10