Upwork (UPWK) Has Staying Power

September 10, 2021

Upwork (UPWK) Has Staying Power

Upwork isn't a traditional "remote work" story.

What do we mean?

The Street is treating UPWK similar to lockdown beneficiaries ZM, PTON, and even CHWY -- Companies who benefitted from a pull-forward effect, but who are unlikely to sustain prior levels of growth. UPWK Shares are trading nearly 25% off highs recorded earlier this year.

But LikeFolio data suggests Upwork is a different beast.

Consider the Mentions chart below, showcasing all mentions of Upwork, including those from freelancers and employers of said freelancers.

These mentions just pushed through all-time highs: +23% YoY.

That's pretty impressive growth on top of the previous covid-induced year.

Upwork's mention volume growth suggests consumers are sticking around...on the freelance and employment side of the business.

Check out consumer mentions of hiring a freelancer.

Hiring mentions are growing the in the current quarter (shaded bar on the far right).

Translation: this behavior is sticky. Freelancers have become accustomed to the freedom of remote work, and employees have grown accustomed to the convenience and efficiencies freelancers provide.

We like this edge.

Want deeper insights? Get Free Access to The Vault.

Related Posts

Fiverr & Upwork: Still Good Buys? ($FVRR, $UPWK)

Fiverr ($FVRR) and Upwork ($UPWK) fill a similar niche within […]

Read More
The Biggest Beneficiary of the “Urban Exodus” ($TSCO)

In Q1 of 2021, we identified the ongoing “Urban Exodus” […]

Read More
Upwork or Fiverr For The Freelance Takeover?

As you may have already gathered from the title of […]

Read More
1 2 3

Related Posts

About LikeFolio

LikeFolio analyzes social media data to accurately predict shifts in consumer behavior. We sell data and insights to professional investors, corporate research teams, and software providers.
© 2024
 LikeFolio. All Rights Reserved.
LikeFolio