5 Metrics Behind Upwork's Soaring Stock Price
Shares of freelancer marketplace Upwork (NASDAQ: UPWK) catapulted higher by as much as 53% on Thursday. Investors were impressed with the tech company's strong third-quarter results, which crushed analyst estimates.
"Our third quarter performance was fueled by strength from both existing and new clients, who adopted Upwork in record numbers," explained Upwork CEO Hayden Brown in the company's third-quarter earnings release. "As the world's largest work marketplace that connects businesses with independent talent, as measured by gross services volume, we have been building capabilities and tools for a world now increasingly ready to use them."
Shares have now risen by about 170% this year.
Source Fool.com
