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Upwork:Quarterly Results/2023 Q1: Difference between revisions
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===== Analysts Commentaries ===== | |||
====== Piper Sandler ====== | |||
* While commenting on why Upwork shed 25% on May 5, the firm said the reason for the selloff from is the thoughts around the impact of artificial intelligence on freelance platforms, with a few investment banks even putting out "AI Killer" indices. | |||
* It pointed investors to the Upwork (UPWK) earnings call, which it it says pointed to no impact from AI taking share amid the broader macro headwinds. | |||
* It added that the move in Fiverr shares is more based on the fear of "what if" rather than anything known today<ref>https://thefly.com/landingPageNews.php?id=3709424&headline=FVRR;UPWK-Fiverr-down--on-no-companyspecific-news-says-Piper-Sandler&utm_source=https://thefly.com/news.php%3fsymbol=FVRR&utm_medium=referral&utm_campaign=referral_traffic</ref>. | |||
====== BTIG's Marvin Fong ====== | |||
* He initiated coverage of Fiverr with a price target of $50 and a Buy rating on April 10. | |||
* Marvin views Fiverr as the "purest way to play the attractive online freelancing opportunity with the lowest execution risk." | |||
* He told investors that the pullback in the stock "belies the substantial improvement in fundamentals," which include revenue for 2023 tracking over 60% higher than was expected before the pandemic, the analyst tells investors in a research note<ref>https://thefly.com/landingPageNews.php?id=3691811&headline=FVRR-Fiverr-initiated-with-a-Buy-at-BTIG&utm_source=https://thefly.com/news.php%3fsymbol=FVRR&utm_medium=referral&utm_campaign=referral_traffic</ref>. | |||
===== Insights ===== | ===== Insights ===== | ||