13 Most Undervalued Stocks Under $20 to Buy

10. Upwork Inc. (NASDAQ:UPWK)

Share Price: $16.15

Forward P/E: 12.16

Number of Hedge Fund Holders: 32

Upwork Inc. (NASDAQ:UPWK) is among the 13 Most Undervalued Stocks Under $20 to Buy. On November 5, Roth Capital analyst Rohit Kulkarni lifted his price target on the stock to $22 from $19, while maintaining a Buy rating on its shares.

The firm’s adjustment followed the company’s third-quarter fiscal 2025 earnings results on November 3, in which a return to gross services volume (GSV) growth after five quarters of headwinds helped post a record quarterly revenue of $201.7 million and adjusted EBITDA of $59.6 million. Net income stood at $29.3 million, up 6% year-over-year.

President and CEO Hayden Brown credited the strong results to Upwork Inc. (NASDAQ:UPWK)’s work over the last year and a half to prepare the business for the era of AI. The efforts paid dividends, as Q3 saw a 45% year-over-year increase in clients participating in AI projects on the platform, helping GSV grow.

Buoyed by the results, Upwork Inc. (NASDAQ:UPWK) raised its full-year guidance to between $782 million and $787 million for revenue, and in the range of $222 million to $225 million for adjusted EBITDA. Moreover, the company said that it was confident of achieving its long-term goal of an adjusted EBITDA margin of 35%.

In a research note to investors, Roth Capital highlighted Upwork’s revenue and EBITDA beats during the third quarter, along with the revised outlook for the year. The analyst believes the raised revenue guidance for Q4 reflects an expected surge in growth and is above the estimates of several Wall Street analysts. However, the EBITDA guidance mirrors consensus projections.

Upwork Inc. (NASDAQ: UPWK) is a work marketplace that connects businesses with talented professionals from around the world.