Wall Street analysts have begun to highlight Upwork’s AI trajectory in their evaluations. Zacks Investment Research selected Upwork as a “Bull of the Day” stock in May 2025, noting: “The company’s strategic pivot toward AI integration appears to be gaining traction, driving both customer engagement and long-term profitability.”The report pointed out that Upwork’s earnings estimates were on the rise and that its stock chart had broken out of a slump, with bullish technical momentum building. Despite a tough macro environment for tech, Upwork’s AI differentiation was seen as an “intriguing setup for growth-oriented investors,” especially given the company’s improving margins and resilient execution. Similarly, a Yahoo Finance analysis (by Zacks) called Upwork “an AI talent powerhouse” and emphasized that UPWK is fast becoming the go-to platform for firms tackling complex AI projects beyond basic automation.
Crucially, price targets for Upwork have been edging upward as the market bakes in the AI opportunity. While the consensus 12-month target among analysts is around $18–19 (implying healthy double-digit upside), some bullish analysts see far more headroom. In fact, recent price targets range as high as $25 a share for Upwork. (For context, Upwork’s stock has traded in the low-to-mid teens for much of 2023–2024.) A Seeking Alpha analysis noted these $19–$25 targets and argued that the market was “underestimating” Upwork’s growth prospects, especially given the company’s net cash position and leverage to the AI trend. Even large banks have warmed up: for example, Goldman Sachs in late 2024 reportedly set a high-end target near $24. To reach the mid-$20s would likely require continued execution, but investors bullish on AI adoption in staffing see Upwork as a prime beneficiary that could justify such valuations. The stock’s forward price-to-sales ratio remains below peers and historical levels, so if AI-driven revenues accelerate, multiples could expand.
