Upwork’s Strategic Embrace of AI Could Push the Stock to $25, According to Experts!

Recent Financial Performance: Upwork delivered a “record” first quarter of 2025, surprising many with both growth and profitability. In Q1 2025, revenue reached $192.7 million and the company earned $0.34 in GAAP EPS (earnings per share) for the quarter. This was a beat on both top and bottom lines, marking the company’s first GAAP-profitable quarter of meaningful size (Upwork had long operated near break-even or at a loss while investing in growth). Notably, Gross Services Volume (GSV) – the total freelance payments on the platform – grew again after several stagnant quarters. Zacks research highlighted that Q1 saw GSV per active client rise 3% year-over-year, and GSV from larger clients (>$50k spend) up 11%. This is important because it indicates clients are spending more on Upwork, especially enterprise clients, after a period of decline. In fact, Q1 2025 was the first time in six quarters that Upwork’s GSV showed year-over-year growth– a clear sign that the “AI work” and new product initiatives are reigniting activity on the platform.