Why Upwork Stock Just Popped 10% Ahead of Earnings

Shares of Upwork (NASDAQ: UPWK) are up 9.6% in afternoon trading as of 2:15 p.m. EDT, after the freelancing facilitator received a pair of bullish endorsements on Wall Street.

This morning, Jefferies & Co. announced it is raising Upwork's price target 20% from $15 to $18 a share, reports StreetInsider.com. The stock had already passed $15 in Friday trading, so Jefferies may have felt compelled to raise its target to support its existing buy rating on the stock -- even at the risk of potentially getting caught wrong-footed when Upwork reports earnings tomorrow.

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Source Fool.com