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Stock Ratings / Technology / UPWK
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Upwork Inc. (UPWK) — RQD Stock Rating Cockpit

$9.72 +6.23% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $9.81

Upwork Inc. (UPWK) carries a Roarable Rating of C+ (Hold) with 69/100 RQD Confidence. The composite score sits in the neutral Hold band (59–69), meaning current holders don’t need to panic-sell while prospective buyers can wait for a move into the 70+ Buy zone.

ROARABLE C+ • HOLD / WATCH Cap $1.14B
📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card
⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on UPWK Below — or Connect Your Own ChatGPT / Claude
🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is UPWK stock a Buy, Hold, or Sell right now according to Roarable's RQD model?
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As of 2026-11-03, Upwork Inc. (NASDAQ: UPWK) is rated C+ (Hold / HOLD) by Roarable's 5-pillar RQD engine with a composite confidence score of 69/100 at a spot price of $9.72 (+6.23% 1D, market cap $1.14B). Pillar breakdown: Fundamental Cash Engine 17/20, Institutional 13F & Options Flow 9/20, SEC Balance-Sheet Forensics 14/20, FRED Macro Regime Fit 11/20, and Executive Insider Alignment 18/20. Across 715 tracked Technology issuers, UPWK ranks #93 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief
🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does UPWK compare to LZ and PSQL in the Technology sector?
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Within the Technology sector (EDP Services), UPWK carries a Roarable C+ (69/100 RQD), trailing P/E of 9.9x, gross margin of 77.8%, and ROIC of 30.4%. By comparison, LZ (LegalZoom.com Inc.) holds a C- grade (59/100 RQD, P/E 73.7x, ROIC 34.7%, cap $1.15B) and PSQL (Pasqal Holding SA Ordinary Share) posts a D grade (46/100 RQD, P/E N/A, ROIC —, cap $1.11B). Among the 5-stock peer group, UPWK leads on earnings multiple (9.9x) while LZ leads on capital efficiency (34.7% ROIC).

✓ Pre-computed one-to-many AI Quant brief
🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for UPWK?
▼

Per UPWK's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001627475), Upwork Inc. generated $787.8M in revenue (+2.4% YoY), $115.4M in net income, and $242.5M in free cash flow against $1.30B in total assets and $0 in total debt. Key quantitative strengths: Strong cash generator (77.8% gross margin)—profits are backed by real money, not accounting tricks. Primary risk factors monitored: Broader market pullbacks can still drag down strong stocks in the short run. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief
🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).
INTERACTIVE SCENARIO DECK:
🛡️ Portfolio Crash X-Ray
EXT / AFTER-HRS: $9.81 (+0.93%)🧬 Cannibal Buyback (-2.92% YoY Shares)⚙️ Cash Engine: 17/20 (A-) • 30.8% FCF Margin
Verify 90D Bucket Audit →
📊 Historical Track Record: Scores of 69/100 (C+) historically posted market-perform odds over rolling 90-day windows (+2.0% avg 90D alpha vs SPY • 57.3% hit rate — wait for RQD ≥ 70 breakout).
Audit Bucket Track Record →
RQD QUANT TACHOMETERHOLD / WATCH • C+
025507510069
2-of-3 Quant Analysts Bullish
Cash
SEC
Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR RQD RADARRw B · Rk C
Cash (17)Whales (9)SEC (14)Macro (11)CEO (18)
Each axis scored 0–20
12M PRICE TARGET CONE+4.9% Base Target
$24 Bull$10 Base$8 Bear
📬 FREE UPWK RATING-CHANGE & BRIEFING ALERTSManage / Unsubscribe
WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for UPWK)Realized 20D OHLCV Swing Band: ±7.1%
Deterministic 5-Pillar Attribution (69/100 Composite)
🔍 WHY UPWK SCORES 69/100 (C+) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag
▲ #1 Bullish Driver: Insider Conviction & Share Dilution+18/20 pts (26% of score)

SEC Form 4 / 13F Thermometer: 86% Net Buy • Cannibal Buyback (-2.92% YoY Shares)

▲ #2 Bullish Driver: Cash Engine Quality+17/20 pts (25% of score)

SEC XBRL FY 2025 (10-K): 30.8% FCF Margin ($242.5M FCF) & 77.8% Gross Margin

▼ #1 Drag / Risk Factor: Whale & Options Positioning9/20 pts (-11 pt drag)

Put hedging (50% put share) caps near-term gamma upside (-11 pts vs max)

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current
Q1 (-3Q)
61
Grade C$8.64+1.3% Next Q
Q2 (-2Q)
64
Grade C+$8.75+3.7% Next Q
Q3 (-1Q)
66
Grade B-$9.07+7.2% Next Q
Current
69
Grade C+$9.72+2% Hist 90D α
Trajectory: C (61) → C+ (69)Full Audit →
⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)GIDEON ASHMERE // FORENSIC SHORT & KILL-SWITCH DOSSIER

⚔️ Adversarial Opposing Case: Why the UPWK Bull Thesis Could Fail

Gideon Ashmere Forensic Desk →

Even with a 69/100 (C+) score, UPWK faces multiple-compression risk if 9.9x trailing P/E re-rate toward historical sector medians or if hyperscaler/enterprise customer concentration slows in upcoming 10-Q filings.

⚠️ Forensic Kill-Switch #1

Broader market pullbacks can still drag down strong stocks in the short run.

⚠️ Forensic Kill-Switch #2

Dilution & Margin Drag: Cannibal Buyback (-2.92% YoY Shares) — any gross margin slip below 75.3% triggers an automatic RQD downgrade.

⚠️ Forensic Kill-Switch #3

Technical & Forensic Kill-Switch: A daily close below the 50D SMA ($8.66) or 200D SMA ($10.50) invalidates the momentum regime and cuts Target Base ($10.20) toward Bear Floor ($7.96).

🎲 LIVE PREDICTION MARKET ODDS TIED TO $UPWK• $4.8M Crowd Pool • Kalshi / Polymarket Composite
Contract: “UPWK Beats Next Quarterly Revenue & EPS Consensus + Hyperscaler AI CapEx Holds Record Pace”
YES 69%NO 31%Trade / Inspect Odds →
RSI-14 MOMENTUMBULLISH MOMENTUM
58.230 Oversold · 70 Hot
ALTMAN-Z SHIELDWATCH ZONE (1.8–3.0)
2.27>3.0 Fortress Safe
PIOTROSKI F-SCOREHIGH QUALITY (7–9)
7 / 99-Pt Accounting
52-WEEK LASER RANGE15% OF RANGE
L: $7$9.72H: $23
1. Money & Cash Health● HEALTHY
Are profits real cash in the bank?

Real cash coming in backs up reported profits (77.8% gross margin and healthy balance-sheet cushion).

Factor Grade: A-RQD 17 / 20
2. Big Money & Insiders● NEUTRAL
Are whales & executives buying or selling?

Big funds and company insiders are mostly holding steady without aggressive buying or panic selling.

Factor Grade: C+RQD 27 / 40
3. Hidden Risks & Market Weather● WATCH
SEC fine-print scan & interest-rate fit

No major SEC filing blowups, though current interest rates and Fed liquidity call for normal position sizing.

Factor Grade: CRQD 25 / 40
MULTI-MODEL QUANT PANEL DELIBERATION

2-of-3 Quant Analysts Bullish on UPWK

Cash & Moat Bull AI
ROIC & Free Cash Flow Model
BULLISH (85)

30.4% ROIC with 77.8% gross margin and 21.29% FCF yield.

SEC Forensic Auditor AI
10-K Accruals & Altman-Z Guard
BULLISH (70)

Altman-Z 2.27 and Piotroski 7/9 pass balance-sheet audit.

Whale & Macro Hawk AI
Options Skew, 13F & Fed NetLiq
NEUTRAL (63)

27/40 institutional & smart-money positioning score with 11/20 macro alignment.

Bull Case: Why Buyers Like UPWK
  • ✓Strong cash generator (77.8% gross margin)—profits are backed by real money, not accounting tricks.
  • ✓Company leadership has skin in the game with net positive insider conviction.
Bear Case: What Could Go Wrong
  • !Broader market pullbacks can still drag down strong stocks in the short run.
ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Quantitative Research Desk

Scheduled RQD Strong Buys & Whale Accumulation Briefing (UPWK Tape Review)

  • ✓Breakdown of the highest-scoring RQD Green-Light breakouts across our 5,200+ rated universe
  • ✓Forensic Red-Light accounting & dilution traps to review on your watchlist
  • ✓Includes downloadable .ics calendar invite & nightly RQD rating-change email alerts
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UPWK // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -7.60%📐 HORIZONTAL RANGE
2026-11-03O $9.12H $9.72L $9.12C $9.72VOL 2.02M
RES: $10.57SUP: $7.74SMA50: $8.66SMA200: $10.50
$16.47$14.02$11.58$9.13$6.68RES $10.57SUP $7.74$9.722026-05-042026-06-172026-08-042026-09-182026-11-03
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

UPWK Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 UPWK Butterfly Map → + Track UPWK →
Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle
-1.4%/yr Implied 5Y Growth

vs. +2.4% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on UPWK today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for UPWK. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for UPWK today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →
DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (UPWK)

Technology Rank #93 of 715 ⚔️ LZ vs UPWK Full Matrix →

1. Head-to-Head Technology Peer Comparison (UPWK vs. LZ, PSQL, GDRX, CLVT)

Industry: EDP Services (163 Tracked Issuers)

Across 715 tracked Technology securities in the Roarable RQD universe, Upwork Inc. (UPWK) ranks #93 by composite RQD confidence (69/100, grade C+) and #343 by equity capitalization ($1.14B). Within this direct 5-issuer industry benchmark cohort, UPWK leads on earnings valuation at 9.9x trailing P/E, while LZ leads on capital efficiency and profitability with 34.7% ROIC and 65.9% gross margin. UPWK currently leads its immediate peer cohort in composite quantitative strength at 69/100 (C+).

Ticker / Company Roarable Grade RQD Score Trailing P/E Gross Margin ROIC 1D Change Market Cap Head-to-Head
UPWK ACTIVE
Upwork Inc.
C+ 69/100 9.9x 77.8% 30.4% +6.23% $1.14B Benchmark Subject
LZ
LegalZoom.com Inc.
C- 59/100 73.7x 65.9% 34.7% +3.13% $1.15B /lz-vs-upwk →
PSQL
Pasqal Holding SA Ordinary Share
D 46/100 — — — +0.57% $1.11B /psql-vs-upwk →
GDRX
GoodRx Holdings Inc. (Class A)
D+ 58/100 39.7x — 8.3% +1.72% $1.19B /gdrx-vs-upwk →
CLVT
Clarivate Plc
E 28/100 — 66.0% 1.3% +0.61% $1.06B /clvt-vs-upwk →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001627475 ↗

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Upwork Inc. (UPWK) reported GAAP revenue of $787.8M (+2.4% vs. FY2024 revenue of $769.3M , and +14.3% cumulative change since FY2023) , GAAP net income of $115.4M, operating cash flow of $248.3M, and free cash flow of $242.5M (+61.6% YoY). On the balance sheet, UPWK closed FY2025 with $1.30B in total assets against $0 in total debt (Altman Z-Score: 2.27, Piotroski F-Score: 7/9).

Fiscal Period Filing Date Revenue Net Income Operating Cash Flow Free Cash Flow Total Assets Total Debt
FY2025 (FY) 2025-12-31 $787.8M $115.4M $248.3M $242.5M $1.30B $0
FY2024 (FY) 2024-12-31 $769.3M $215.6M $153.6M $150.0M $1.21B $357.9M
FY2023 (FY) 2023-12-31 $689.1M $46.9M $52.7M $52.7M — —

3. UPWK Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is UPWK stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-03, Upwork Inc. (NASDAQ: UPWK) is rated C+ (Hold / HOLD) by Roarable's 5-pillar RQD engine with a composite confidence score of 69/100 at a spot price of $9.72 (+6.23% 1D, market cap $1.14B). Pillar breakdown: Fundamental Cash Engine 17/20, Institutional 13F & Options Flow 9/20, SEC Balance-Sheet Forensics 14/20, FRED Macro Regime Fit 11/20, and Executive Insider Alignment 18/20. Across 715 tracked Technology issuers, UPWK ranks #93 in composite RQD confidence.

How does UPWK compare to LZ and PSQL in the Technology sector?

Within the Technology sector (EDP Services), UPWK carries a Roarable C+ (69/100 RQD), trailing P/E of 9.9x, gross margin of 77.8%, and ROIC of 30.4%. By comparison, LZ (LegalZoom.com Inc.) holds a C- grade (59/100 RQD, P/E 73.7x, ROIC 34.7%, cap $1.15B) and PSQL (Pasqal Holding SA Ordinary Share) posts a D grade (46/100 RQD, P/E N/A, ROIC —, cap $1.11B). Among the 5-stock peer group, UPWK leads on earnings multiple (9.9x) while LZ leads on capital efficiency (34.7% ROIC).

What are the biggest fundamental strengths and SEC risk factors for UPWK?

Per UPWK's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001627475), Upwork Inc. generated $787.8M in revenue (+2.4% YoY), $115.4M in net income, and $242.5M in free cash flow against $1.30B in total assets and $0 in total debt. Key quantitative strengths: Strong cash generator (77.8% gross margin)—profits are backed by real money, not accounting tricks. Primary risk factors monitored: Broader market pullbacks can still drag down strong stocks in the short run. Institutional options positioning shows a 50% call / 50% put premium split.

Where is UPWK trading relative to its 50-day, 200-day, and 52-week technical levels?

UPWK last traded at $9.72 (+6.23% on volume of 7,013,437 shares), positioning the stock +12.24% above its 50-day simple moving average ($8.66) and -7.43% below its 200-day simple moving average ($10.50). Across its 52-week range of $7.44 to $22.84, UPWK sits at the 14.8% percentile with a 14-day RSI of 58.2 (BULLISH MOMENTUM) and an implied next-earnings move of ±7.1% ($9.03 to $10.41).

Direct Sub-Reports: UPWK RQD Cockpit UPWK 12M Forecast UPWK Earnings & Move UPWK Dividends & DRIP UPWK Insiders & 13F UPWK Whale Options UPWK Profit Sankey UPWK News & Why
ROARABLE RATING BRIEF • RQD 69/100 (C+) ✓ SEC XBRL & RQD VERIFIED

UPWK — Upwork Inc.: What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit
Updated: 2025-12-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

Upwork Inc. (UPWK) earns a live Roarable RQD composite score of 69/100, corresponding to a C+ letter grade (Roarable Hold) at a spot price of $9.72 (+6.23% 1D, market capitalization $1.14B).

  • Fundamental Cash Engine (17/20): Anchored by return on invested capital (ROIC) of 30.4%, gross margin of 77.8%, operating margin of 16.4%, and free cash flow yield of 21.29%.
  • Whale 13F & Options Flow (9/20) + Insider Conviction (18/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
  • Macro Regime Fit (11/20) + Forensic Balance Sheet (14/20): Incorporates a 1.00x equity beta, Altman Z-Score of 2.27, Piotroski F-Score of 7/9, and Debt/Equity of 0.00x.

2. Business Model, Unit Margins & SEC Financial Trajectory

Upwork Inc. Is a NASDAQ-listed issuer classified under the Technology sector and the EDP Services industry. Per the market data, the company reports a gross margin of 77.8%, indicating a high-margin revenue base. — for further business detail.

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), Upwork Inc. (UPWK) reported $787.8M in annual revenue (up from $769.3M in FY2024, +2.4% YoY) and $115.4M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($689.1M revenue, $46.9M net income) through FY2025, UPWK scaled operating cash flow to $248.3M and free cash flow to $242.5M, backed by $1.30B in total assets against $0 in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

  • 🐂 Primary Bull Case (C+ • RQD 69/100): Strong cash generator (77.8% gross margin)—profits are backed by real money, not accounting tricks. Company leadership has skin in the game with net positive insider conviction. With Fundamental Cash Engine at 17/20 and Institutional Whale Flow at 9/20, sustained execution supports upside toward the upper end of the $7.44 – $22.84 52-week range.
  • 🐻 Primary Bear Case & Valuation Risk: Broader market pullbacks can still drag down strong stocks in the short run. Investors must weigh 9.9x trailing P/E and 6.3x EV/EBITDA against 16.4% operating margins and a 1.00x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

Operating in EDP Services (Technology), UPWK carries a macro regime beta of 1.00 and gross margin of 77.8%.

  • Key Question #1: Can UPWK sustain or expand its 16.4% operating margin and 30.4% ROIC against EDP Services peers over the next 4 quarters?
  • Key Question #2: Following FY2025 revenue of $787.8M and free cash flow of $242.5M, how will capital allocation balance growth reinvestment against $0 in total debt?
  • Key Question #3: How sensitive is UPWK's 9.2x forward P/E multiple to Technology capital spending cycles and macro interest-rate shifts (Beta 1.00x)?

UPWK Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Upwork Inc. (UPWK) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to UPWK Debate Forum (3) ↓
🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

UPWK Bull vs. Bear Conversation Board — What's Your Call at $9.72?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON UPWK 🐻 33% BEARISH CONVICTION
1. Pick Your Side on UPWK:
💡 Tip: Back up your call with a price target or RQD metric to get upvoted to the top.
BR BreakoutHunter RQD DEBATE OPENER • Swing & Catalyst Trader 🐂 BULLISH 🎯 Target: $10.61 (+16.0%)
📌 Pinned Debate

Trading at 9.9x trailing P/E and 6.3x EV/EBITDA with a 21.29% FCF yield and 30.4% ROIC, the cash generation appears priced conservative

Picked up a starter position in UPWK in my $100K Virtual Cash book at $9.15. Trading at 9.9x trailing P/E and 6.3x EV/EBITDA with a 21.29% FCF yield and 30.4% ROIC, the cash generation appears priced conservatively.. Trading inside a $7.44–$22.84 52-week range with 21.29% FCF yield gives solid downside support if EDP Services multiples expand this quarter.

SectorRotator 🐂 BULL

@CreditSpread_Watch Fair point on 9.9x trailing P/E, but you're ignoring the forward operating leverage in EDP Services. If gross margin (77.8%) holds, EPS grows into the multiple faster than bears think.

CR CreditSpread_Watch RQD DEBATE OPENER • Balance Sheet Analyst 🐻 BEARISH 🎯 Target: $7.41 (-19.0%)
Spot @ $9.15

Institutional 13F flow scores only 9/20 and the stock's 52-week range of $7.44 - $22.84 shows steep price volatility despite a Beta of

Careful chasing UPWK at $9.15. Institutional 13F flow scores only 9/20 and the stock's 52-week range of $7.44 - $22.84 shows steep price volatility despite a Beta of 1.0.. Gross margin is 77.8%, but operating margin is 16.4%, which shows SG&A and reinvestment are eating into bottom-line EPS. Target $7.41 on multiple compression.

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