JMP Securities Reaffirms Market Outperform for Upwork (UPWK) Amid Growth in AI Jobs and Enterprise Services

Upwork Inc. (NASDAQ:UPWK) ranks among the best cheap rising stocks to invest in now. With a $20 price target, JMP Securities reaffirmed its Market Outperform rating on Upwork Inc. (NASDAQ:UPWK) on September 12. The firm maintained its optimistic assessment of the freelance platform based on a number of continuous drivers of revenue growth and Gross Services Value (GSV) that are unaffected by macroeconomic factors.

JMP Securities lists several growth factors for the company, including Upwork’s updated variable freelancer fee structure, a redesigned enterprise approach, and an increase in AI-related job opportunities on the platform.

The firm also cites continuous momentum in advertising and monetization technologies, as well as increased acceptance of Upwork’s Business Plus tier as catalysts for growth.

Upwork Inc. (NASDAQ:UPWK) is a communication services company that runs a global freelancing platform, connecting businesses with individuals and agencies.

While we acknowledge the potential of UPWK to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than UPWK and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.