- Shares of Upwork have lost 30% of their value year to date, largely a reflection of increased pessimism toward growth stocks.
- The most recent catalyst is that Upwork withdrew its 2022 guidance, owing to its decision to pause its business in Russia (4% of revenue).
- Though the geopolitical tensions will surely have an impact on Upwork’s top line, the accompanying price declines since then make the risk worth taking on.
- Upwork looks attractively valued at ~4.7x forward revenue.
For further details see:
Upwork: As The World Shifts Toward Freelance, This Is The Right Stock To Bank On