Upwork Inc (UPWK) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Upwork Inc $19.95, price $8.18, upside +143.9%, quality 69 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Upwork Inc
UPWK · USClearly undervaluedStrong Fair Value upside, but quality is only moderate.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range $7.60 – $60.70 · fair‑value band $13.96 – $25.93 · the $8.18 price screens below the $19.95 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Company profile
Upwork Inc., together with its subsidiaries, provides platforms and workforce solutions that connect businesses with freelance, agency, fractional, and payrolled talent in the United States, the Philippines, India, Pakistan, and internationally.
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Upwork Inc., together with its subsidiaries, provides platforms and workforce solutions that connect businesses with freelance, agency, fractional, and payrolled talent in the United States, the Philippines, India, Pakistan, and internationally. The company offers Upwork Marketplace, a human and AI-powered work marketplace that connects businesses with on-demand access to independent talent across a range of categories, including AI-related projects, administrative support, sales and marketing, design and creative, and customer service, as well as web, mobile, and software development. Its marketplace also streamlines workflows, such as talent sourcing, outreach, contracting, and engagement management, as well as provides infrastructure for remote collaboration, including communication and collaboration tools, consolidated invoicing, and payment protection; and Upwork Payroll services. It also offers enterprise solutions that provide access to platform capabilities that support contingent workforce solutions, including sourcing, onboarding, classification, compliance and contract management, payments, and reporting. In addition, the company offers managed services that provide a service-led program management and end-to-end project delivery solution that enables enterprise clients to outsource defined functions or projects; Uma, an AI assistant; and escrow services. The company was formerly known as Elance-oDesk, Inc. and changed its name to Upwork Inc. in May 2015. Upwork Inc. was founded in 1998 and is headquartered in Palo Alto, California.
Stock analysis
Upwork Inc (UPWK) currently trades at $8.18, while our model-based Fair Value estimate is $19.95, implying the stock looks roughly 59.0% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $24.96 per share, and 20 of the 24 models we run sit above the $8.18 price.
Bear case: the Asset-Based group reads lowest at $3.42, and 4 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: $13.96 (bear) to $25.93 (bull), the price of $8.18 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 69/100 (solid quality), in the Communication Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Upwork Inc reported revenue of $788M in FY2025 versus $503M in FY2021, a compound +11.9%/yr. Reported net income was $115M in FY2025.
Key figures
Market cap $1.1B · P/E ratio 10.1 · P/S ratio 1.48 · EPS (TTM) $0.8100 · Net margin 14.7% · Return on equity 18.8% · Return on assets (EBIT) 0.1% · Operating margin 16.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (medium confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades about 63% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 10% fair-value upside, at 144%, UPWK screens cheaper than that median.
Fair Value models
All 24 models by family
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Set up alert →Quality Score breakdown
Of which business quality 71 · Market factors (momentum, volatility) 18
Revenue & earnings trend
Growth Forecast
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Recent news
- Upwork (UPWK), Why Is The Market Taking A Closer Look?
- Upwork (UPWK): Buy, Sell, or Hold Post Q2 Earnings?
- Upwork to Present at Goldman Sachs Communacopia + Technology Conference
Compare Upwork Inc with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Internet Content & Information · 149 stocks
Valuation Multiplesvs Internet Content & Information median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Industrials
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
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| Reddit, Inc RDDT | $155.67 | $132.52 | −15% |
| Baidu, Inc 9888 | HK$88.55 | HK$49.16 | −44% |
| Kuaishou Technology, an investment holding company, 1024 | HK$31.22 | HK$101.62 | +225% |
| NAVER Corporation 035420 | 194,700 KRW | 315,395 KRW | +62% |
| Tencent Music Entertainment Group 1698 | HK$32.28 | HK$71.55 | +122% |
| REA Group REA | A$152.30 | A$167.53 | +10% |
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