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Upwork:Quarterly Results/2023 Q1: Difference between revisions
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====== Piper Sandler ====== | ====== Piper Sandler ====== | ||
* While commenting on why Upwork shed 25% on May 5, the firm said the reason for the selloff | * While commenting on why Upwork shed 25% on May 5, the firm said the reason for the selloff 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 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>. | * 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>. | ||