As of last week, shares from the recent IPO of Upwork had risen by nearly 17%, and they are continuing to experience massive gains, marking it as one of the top stocks to purchase. Currently, financial analysts are not certain why Upwork is experiencing this extreme growth, especially since the company is not set to release their fourth-quarter earnings for several weeks.
However, despite the unknown, Upwork has continued to be a darling of investors, and it has already reaped significant rewards for several.
As a result, several risk management firms have characterized Upwork as one of the top stocks to purchase now with the hopes that it will continue to rise over both the short and long term. For example, Hedgeye Risk Management dubbed Upwork its “best idea long.” This marks a significant shift for a company whose stock was stagnating early in the year. With a number of widely-regarded experts and amateur day traders buying into the hype, Upwork has continued to rise.
Before Upwork releases its fourth-quarter results, it is expected that the stock will continue to accelerate in its growth. Regardless until the Q4 numbers are firmly released, it is impossible to fully predict what may occur over the coming weeks and months. With how it has been doing in the short term, it is expected that earnings will be significant.
