- The challenge for investors right now is the current elevated valuation vs. the predictability of future gains.
- As a result of the increased expenditure on selling and marketing as well as R&D and administrative costs, operating margins have been going deeper and deeper into negative territory.
- If growing at a 24% YoY rate means operating on the edge of a razor blade, then things are going to get much tighter when the growth rate drops lower.
- I realize that I might be taking an overly pessimistic view of this stock, but I find it hard to recommend a buy at this price because there's too much risk and too many moving parts.
For further details see:
Upwork: A Risky Bet With Too Many Moving Parts