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Upwork: Leaping Past Russia

May 02, 2022 1:54 PM ETUpwork Inc. (UPWK)BYOB, IBUY, GLRY, PLAT, ANEW13 Comments


  • Upwork reported a solid Q1 despite impacts from the Russian invasion of Ukraine.
  • The company faces an impact of up to 10% of their business disrupted in the region, but Upwork still guided to nearly 20% growth in 2023.
  • The stock is crazy cheap at 3.5x '23 revenue targets of over $760 million.
  • Looking for more investing ideas like this one? Get them exclusively at Out Fox The Street. Learn More »

Ukraine and Russia flag with cracks, political conflict.

OLGA Zhukovskaya/iStock via Getty Images

While the market was worried about the Russian and Ukraine impact on Upwork Inc. (NASDAQ:UPWK), the company was out executing on the business model. The stock traded down to below $20 on fears of a

UPWK chart


UPWK guidane table

Upwork Q1'22 shareholder letter

GSV per Active Clients slide

Upwork Q1'22 shareholder letter

Earnings Estimates table

SA earnings estimates

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Stone Fox Capital Advisors, LLC is a registered investment advisor founded in 2010. Mark Holder graduated from the University of Tulsa with a double major in accounting & finance. Mark has his Series 65 and is also a CPA.

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in UPWK over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities. Before buying or selling any stock, you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal.

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