Upwork price target raised to $20 from $13 at Roth MKM

Roth MKM raised the firm’s price target on Upwork (UPWK) to $20 from $13 and keeps a Buy rating on the shares. The company’s Q4 EBITDA guide came clearly above expectations after the recent Q3 preannouncement, with Upwork still unfolding a 5-star playbook of growing cash flows and smart capital allocation, along with pursuing lower costs, take rate expansion, share buybacks, and tuck-in acquisitions, the analyst tells investors in a research note.