Upwork Inc. (UPWK) is one of the 13 most undervalued stocks under $20 to buy, with a price target raised to $22 by Roth Capital after strong Q3 results. The company reported a record quarterly revenue of $201.7 million and adjusted EBITDA of $59.6 million, with net income up 6% year-over-year.

President and CEO Hayden Brown credited the strong Q3 results to Upwork’s preparation for the AI era, resulting in a 45% year-over-year increase in clients participating in AI projects. The company raised its full-year revenue guidance to between $782 million and $787 million, with confidence in achieving its long-term goal of a 35% adjusted EBITDA margin.

Roth Capital highlighted Upwork’s revenue and EBITDA beats in Q3, along with a revised outlook for the year. The raised revenue guidance for Q4 reflects an expected surge in growth, but the EBITDA guidance mirrors consensus projections. Upwork connects businesses with professionals globally on its work marketplace.

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Read more at Yahoo Finance: Roth Capital Lifts Upwork Inc. (UPWK)’s Price Target To $22, Maintains Buy Rating After Strong Q3 Results