UPWK

Company Overview — What Does UPWORK, INC Do?

Upwork Inc., together with its subsidiaries, operates a work marketplace that connects businesses with various independent professionals and agencies in the United States, India, the Philippines, and internationally. The company's work marketplace provides access to talent with various skills across a range of categories, including sales and marketing, customer service, data science and analytics, design and creative, web, mobile, and software development. Its work marketplace also enables clients to streamline workflows, such as talent sourcing, outreach, and contracting. The company's work marketplace offers access to various functionalities for remote engagements with talent, including communication and collaboration, ability to receive talent invoices through their work marketplace, and payment protection. Its marketplace offerings include Upwork Basic, Upwork Plus, Upwork Enterprise, and Upwork Payroll, as well as managed and internet escrow agency services. The company was formerly known as Elance-oDesk, Inc. and changed its name to Upwork Inc. in May 2015. Upwork Inc. was incorporated in 2013 and is headquartered in San Francisco, California. UPWORK, INC (UPWK) is classified as a small-cap stock in the Industrials sector, specifically within the Business Services industry. The company is led by CEO Hayden Brown and employs approximately 850 people. With a market capitalization of $1.5B, UPWK is one of the notable companies in the Industrials sector.

UPWORK, INC (UPWK) Stock Rating — Reduce (April 2026)

As of April 2026, UPWORK, INC receives a Reduce rating with a composite score of 44.0/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.UPWK ranks #2,430 out of 4,446 stocks in our coverage universe. Within the Industrials sector, UPWORK, INC ranks #395 of 752 stocks, placing it in the lower half of its Industrials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

UPWK Stock Price and 52-Week Range

UPWORK, INC (UPWK) currently trades at $10.65. The stock gained $0.21 (2.0%) in the most recent trading session. The 52-week high for UPWK is $22.84, which means the stock is currently trading -53.4% from its annual peak. The 52-week low is $11.13, putting the stock -4.3% above its annual trough. Recent trading volume was 3.5M shares, reflecting moderate market activity.

Is UPWK Overvalued or Undervalued? — Valuation Analysis

UPWORK, INC (UPWK) carries a value factor score of 67/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 11.21x, compared to the Industrials sector average of 28.33x — a discount of 60%. The price-to-book ratio stands at 2.27x, versus the sector average of 2.23x. The price-to-sales ratio is 1.83x, compared to 0.50x for the average Industrials stock. On an enterprise value basis, UPWK trades at 14.70x EV/EBITDA, versus 5.70x for the sector.

Overall, UPWK's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.

UPWORK, INC Profitability — ROE, Margins, and Quality Score

UPWORK, INC (UPWK) earns a quality factor score of 48/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is 20.2%, compared to the Industrials sector average of 8.9%, which demonstrates strong shareholder value creation. Return on assets (ROA) comes in at 9.8% versus the sector average of 3.3%.

On a margin basis, UPWORK, INC reports gross margins of 77.7%, compared to 35.8% for the sector. The operating margin is 15.6% (sector: 6.2%). Net profit margin stands at 16.3%, versus 3.9% for the average Industrials stock. Revenue growth is running at 4.5% on a trailing basis, compared to 6.4% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

UPWK Debt, Balance Sheet, and Financial Health

UPWORK, INC has a debt-to-equity ratio of 57.0%, compared to the Industrials sector average of 70.0%. Leverage is within a manageable range for the industry, though investors should monitor debt trends over time. The current ratio is 1.46x, suggesting adequate working capital coverage. Total debt on the balance sheet is $360M. Cash and equivalents stand at $261M.

UPWK has a beta of 1.10, meaning it is roughly in line with the broader market in terms of price volatility. The stability factor score for UPWORK, INC is 43/100, reflecting average volatility within the normal range for its sector.

UPWORK, INC Revenue and Earnings History — Quarterly Trend

In TTM 2026, UPWORK, INC reported revenue of $783M and earnings per share (EPS) of $0.87. Net income for the quarter was $128M. Gross margin was 77.7%. Operating income came in at $122M.

In FY 2025, UPWORK, INC reported revenue of $788M and earnings per share (EPS) of $0.87. Net income for the quarter was $115M. Gross margin was 77.8%. Revenue grew 2.4% year-over-year compared to FY 2024. Operating income came in at $129M.

In Q3 2025, UPWORK, INC reported revenue of $202M and earnings per share (EPS) of $0.22. Net income for the quarter was $29M. Gross margin was 77.3%. Revenue grew 4.1% year-over-year compared to Q3 2024. Operating income came in at $30M.

In Q2 2025, UPWORK, INC reported revenue of $195M and earnings per share (EPS) of $0.25. Net income for the quarter was $33M. Gross margin was 77.7%. Revenue grew 0.9% year-over-year compared to Q2 2024. Operating income came in at $33M.

Over the past 8 quarters, UPWORK, INC has demonstrated a growth trajectory, with revenue expanding from $193M to $783M. Investors analyzing UPWK stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

UPWK Dividend Yield and Income Analysis

UPWORK, INC (UPWK) does not currently pay a dividend. This is common among smaller companies in the Business Services industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Industrials dividend stocks may want to explore other Industrials stocks or use the stock screener to filter by dividend yield.

UPWK Momentum and Technical Analysis Profile

UPWORK, INC (UPWK) has a momentum factor score of 26/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 32/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 55/100 reflects moderate short selling activity.

UPWK vs Competitors — Industrials Sector Ranking and Peer Comparison

Within the Industrials sector, UPWORK, INC (UPWK) ranks #395 out of 752 stocks based on the Blank Capital composite score. This places UPWK in the lower half of all Industrials stocks in our coverage universe. Key competitors and sector peers include South Bow Corp (SOBO) with a score of 56.5/100, TSAKOS ENERGY NAVIGATION LTD (TEN) with a score of 61.4/100, Great Lakes Dredge & Dock CORP (GLDD) with a score of 56.7/100, Tri Pointe Homes, Inc. (TPH) with a score of 57.3/100, and Clear Channel Outdoor Holdings, Inc. (CCO) with a score of 52.2/100.

Comparing UPWK against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full UPWK vs S&P 500 (SPY) comparison to assess how UPWORK, INC stacks up against the broader market across all factor dimensions.

UPWK Next Earnings Date

No upcoming earnings date has been announced for UPWORK, INC (UPWK) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy UPWK? — Investment Thesis Summary

The quantitative profile for UPWORK, INC suggests caution. The value score of 67/100 suggests attractive pricing relative to fundamentals. Momentum is weak at 26/100, a headwind for near-term performance.

In summary, UPWORK, INC (UPWK) earns a Reduce rating with a composite score of 44.0/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on UPWK stock.

Related Resources for UPWK Investors

Explore more research and tools: UPWK vs S&P 500 comparison, top Industrials stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare UPWK head-to-head with peers: UPWK vs SOBO, UPWK vs TEN, UPWK vs GLDD.