A long-term bet on the gig economy

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Shares of online freelancer employing platform Upwork tumbled in March, as Wall Street stressed that an economic slowdown would prompt organizations cutting temporary workers and freelancers. In May, however, as the business picture has become clearer, Upwork's shares took off. The stock is up over 15% for the year.

software freelance

Why it could beat: More than 36 million individuals have recorded initial unemployment claims over the last two months. A few analysts are worried that many permanent, full-time employments may not return quickly...if ever. That could help demand for short-term freelance employees, as organizations try to briefly fill knowledge and experience gaps. It also ups the probability that job seekers will go to Upwork to search for freelance and agreement based gigs while they search for something more long-lasting.

Why it's trading under $13/share: Despite consistently increasing revenue since it opened up to the world in 2018, Upwork still isn't gainful, nor is it consistently cash flow-positive. That is fundamentally because it's spending vigorously on marketing and R&D, which makes sense for a youngster tech organization. Shockingly, Upwork has figured out how to avoid racking up huge amounts of unpaid liability. In the end, however, Upwork should show it can really make money over the long term while pulling in clients and fighting off competitors.


Also Read: How To Become a software freelance Developer

Comments

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