Fly News Breaks for February 27, 2020
Feb 27, 2020 | 08:01 EDT
RBC Capital analyst Mark Mahaney lowered the firm's price target on Upwork to $14 from $20 but keeps an Outperform rating on the shares. The analyst notes that the company's Q4 revenue growth decelerated to 19% with slowing net adds of 3.5K vs. 4.0K in Q4 of last year and its new CEO presented 2020 as an "investment year", focusing on attracting bigger clients and enabling more spend per client. Mahaney contends however that investors with a longer-term perspective may see upside.
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