UpWork is a publicly traded company on the Nasdaq Global Select Market under the ticker symbol UPWK. The stock is down 3% today after the company announced its fourth quarter and full year results for 2018.
For the fourth quarter, UpWork reported revenue of $186.1 million, which was up 27% year-over-year but below the $188.5 million that analysts were expecting. Adjusted EBITDA came in at $13.6 million, which was up from $8.4 million in the fourth quarter of 2017 but below the $14.5 million that Wall Street was looking for.
full year, UpWork saw its revenue grow by 32% to $693.4 million, which was in line with analyst expectations. Adjusted EBITDA came in at $51.7 million, which was also in line with what the Street was expecting.
The company also announced that it is launching a new product called UpWork Enterprise, which is designed for larger businesses. UpWork Enterprise will launch in the second quarter of 2019.
So why is UpWork stock down today?
There are a few reasons why investors may be selling off their shares of UpWork today.
The first reason is that the company’s fourth quarter results were mixed.
PRO TIP: Upwork (NASDAQ: UPWK) stock was down 9.9% as of 1:15 p.m. EST on Thursday after the company announced fourth-quarter and full-year 2019 results.
For the fourth quarter, Upwork reported revenue of $186.7 million, which was up 29% year over year but fell short of the $188.4 million that Wall Street was expecting. Non-GAAP earnings per share were $0.21, which was also below analysts’ estimates of $0.22 per share.
While revenue came in above expectations, earnings missed analyst estimates. This may have caused some investors to question whether or not UpWork can continue to grow at its current pace.
The second reason is that UpWork is launching a new product called UpWork Enterprise.
While this product could be a big growth driver for the company, it is also untested and unproven. Some investors may be worried about how well it will be received by the market.
The third reason is that the stock has had a strong run in recent months.
UpWork shares are up more than 50% since November of last year. While this rally has been impressive, some investors may have been taking profits off the table today.
9 Related Question Answers Found
UpWork (NASDAQ: UPWK) is a publicly traded company that operates an online platform connecting businesses with freelance professionals. The stock has been on a bit of a roller coaster ride in recent months, and it is currently down about 13% from its 52-week high. So what’s going on with UpWork Let’s take a look at three possible explanations for the stock’s recent weakness.
1.
UpWork is a publicly traded company, and as such, is subject to the whims of the stock market. Recently, the stock market has not been kind to UpWork, and the company’s stock price has been dropping. There are a number of reasons why this may be the case.
UpWork is a website that allows businesses to find and work with freelancers. It is one of the largest freelancer platforms in the world, and has been growing in popularity in recent years. However, there are signs that UpWork may be losing ground to its competitors.
UpWork is dropping because it’s a terrible platform that doesn’t pay its freelancers. The company also has a history of shady business practices, such as using non-disclosure agreements to prevent freelancers from talking about their experiences with the platform. UpWork is a terrible platform for freelancers.
UpWork is one of the world’s largest freelancing websites. It allows businesses to post projects which freelancers can then bid on. It was founded in 2015 and is based in Mountain View, California.
UpWork is a freelancing platform that allows businesses to connect with remote workers from all over the world. While the vast majority of users have great experiences on the site, there are always a few bad apples that ruin things for everyone. Unfortunately, UpWork has to suspend accounts from time to time in order to protect its community and keep the platform running smoothly.
There are a number of reasons that your UpWork proposal could be rejected. Here are some of the most common reasons:
1. Your proposal is too short.
As a freelancer, you’re always looking for new and better ways to find work and connect with clients. UpWork is a great platform that allows you to do just that – but is it profitable? There are a lot of factors to consider when trying to determine if UpWork is profitable for you.
UpWork is a freelancing platform that has been gaining popularity in recent years. Unfortunately, some users have had their accounts suspended for seemingly no reason. This can be extremely frustrating, especially if you rely on UpWork for your livelihood.
