Upwork Stock Looks Cheap (And Attractive)
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Upwork stock analysis. Ticker: $UPWK
Upwork operates an online marketplace for freelancers. The stock boomed during the pandemic when people were stuck at home but shares have fallen over 80% since. At the latest price, Upwork has a market value of 1.3 billion dollars. It’s got almost 500 million of cash and investments on the balance sheet and 360 million of debt so the enterprise value is 1.2 billion.
Revenue over the last 12 months comes to 744 million with 74 million of net income and 73 million of free cash flow so the stock is valued at 18 times earnings and 16 times free cash flow. That valuation is not bad when you look at Upwork’s recent performance. Average revenue growth over the last 5 years is 22% with sales up 14% over the past 12 months.
Crucially, Upwork recently turned the corner on profitability. Cost cutting helped total operating expenses to decline by 10 percentage points in the latest quarter. As a result adjusted ebitda margin more than doubled, to 21%. And free cash flow surged to 33.5 million.
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