Upwork plans to open its first international hub in Lisbon, enhancing product development and technical hiring globally.
Quiver AI Summary
Upwork Inc. announced plans to open its first international operational hub in Lisbon, Portugal, a move aimed at enhancing the Upwork Marketplace's growth with a focus on product development and technical hiring outside the U.S. The new office, set to become operational by Q4 2026 in the Alcântara district, is part of a broader strategy to leverage Lisbon's pool of innovative talent. The announcement was made by Upwork's CEO Hayden Brown during the Web Summit 2025, alongside Lisbon Mayor Carlos Moedas, who highlighted the city's appeal for unicorn startups. This expansion comes after a record Q3 for Upwork, driven by a 53% year-over-year growth in AI-related work on its platform, underscoring the significant demand for AI skills. Upwork aims to use this new hub to further develop its AI infrastructure, which is seen as crucial for the company's growth trajectory.
Potential Positives
- Opening its first international operational hub in Lisbon, Portugal, signifies Upwork Inc.'s commitment to global expansion and diversifying its talent base outside the U.S.
- The new office is expected to enhance product development and technical hiring, which could lead to increased innovation in Upwork's offerings.
- The announcement follows a record-breaking Q3 for Upwork, indicating strong performance and growth, particularly in AI-related work, which grew 53% year over year.
- Establishing a hub in Lisbon could strengthen Upwork's AI infrastructure and contribute to its next phase of growth, leveraging the city’s innovative talent pool.
Potential Negatives
- The announcement of a new international hub may indicate that Upwork is seeking to diversify its operations due to potential challenges in the U.S. market.
- The timing of this expansion comes after a record-breaking Q3, raising questions about sustainability and whether this growth can be maintained in a new international environment.
- The focus on AI-powered talent and innovation suggests that Upwork may be heavily reliant on market trends in AI, which could pose risks if the demand shifts or declines.
FAQ
What is Upwork's new operational hub location?
Upwork's first international operational hub will be located in Lisbon, Portugal.
When will the Lisbon office become operational?
The Lisbon office is expected to be fully operational by Q4 2026.
Why did Upwork choose Lisbon for its expansion?
Lisbon offers a rich pool of innovative and entrepreneurial talent, making it an ideal location for Upwork's growth.
What impact has AI had on Upwork's performance?
Upwork saw a 53% year-over-year growth in GSV from AI-related work, driven by AI-powered product innovation.
How many skills does Upwork support on its platform?
Upwork connects businesses with professionals spanning over 10,000 skills, including AI, software development, and marketing.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$UPWK Insider Trading Activity
$UPWK insiders have traded $UPWK stock on the open market 38 times in the past 6 months. Of those trades, 0 have been purchases and 38 have been sales.
Here’s a breakdown of recent trading of $UPWK stock by insiders over the last 6 months:
- HAYDEN BROWN (President & CEO) has made 0 purchases and 12 sales selling 278,075 shares for an estimated $4,535,637.
- THOMAS LAYTON sold 250,000 shares for an estimated $4,379,850
- ERICA GESSERT (Chief Financial Officer) has made 0 purchases and 4 sales selling 56,710 shares for an estimated $881,726.
- DAVE BOTTOMS (GM, Marketplace) has made 0 purchases and 9 sales selling 49,979 shares for an estimated $813,856.
- OLIVIER MARIE (Chief Accounting Officer) has made 0 purchases and 10 sales selling 14,122 shares for an estimated $210,909.
- LEELA SRINIVASAN has made 0 purchases and 2 sales selling 9,834 shares for an estimated $149,748.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$UPWK Hedge Fund Activity
We have seen 143 institutional investors add shares of $UPWK stock to their portfolio, and 150 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 2,900,436 shares (-62.2%) from their portfolio in Q2 2025, for an estimated $38,981,859
- FMR LLC removed 2,326,784 shares (-99.5%) from their portfolio in Q2 2025, for an estimated $31,271,976
- PRICE T ROWE ASSOCIATES INC /MD/ removed 1,785,022 shares (-11.8%) from their portfolio in Q2 2025, for an estimated $23,990,695
- MORGAN STANLEY added 1,623,488 shares (+52.5%) to their portfolio in Q2 2025, for an estimated $21,819,678
- GOLDMAN SACHS GROUP INC added 1,159,669 shares (+73.0%) to their portfolio in Q2 2025, for an estimated $15,585,951
- MILLENNIUM MANAGEMENT LLC added 1,106,722 shares (+140.2%) to their portfolio in Q2 2025, for an estimated $14,874,343
- JANE STREET GROUP, LLC added 999,168 shares (+584.0%) to their portfolio in Q2 2025, for an estimated $13,428,817
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$UPWK Analyst Ratings
Wall Street analysts have issued reports on $UPWK in the last several months. We have seen 4 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Needham issued a "Buy" rating on 11/04/2025
- Goldman Sachs issued a "Buy" rating on 11/04/2025
- UBS issued a "Buy" rating on 10/28/2025
- JMP Securities issued a "Market Outperform" rating on 09/24/2025
To track analyst ratings and price targets for $UPWK, check out Quiver Quantitative's $UPWK forecast page.
$UPWK Price Targets
Multiple analysts have issued price targets for $UPWK recently. We have seen 9 analysts offer price targets for $UPWK in the last 6 months, with a median target of $22.0.
Here are some recent targets:
- Rohit Kulkarni from Roth Capital set a target price of $22.0 on 11/05/2025
- Bernie McTernan from Needham set a target price of $25.0 on 11/04/2025
- Eric Sheridan from Goldman Sachs set a target price of $25.0 on 11/04/2025
- Joshua Chan from UBS set a target price of $23.0 on 11/04/2025
- Brad Erickson from RBC Capital set a target price of $21.0 on 11/04/2025
- Ronald Josey from Citigroup set a target price of $19.0 on 11/04/2025
- Nat Schindler from Scotiabank set a target price of $17.0 on 11/04/2025
Full Release
PALO ALTO, Calif., Nov. 12, 2025 (GLOBE NEWSWIRE) -- Upwork Inc. (Nasdaq: UPWK), the world’s human and AI-powered work marketplace, today announced its plan to open its first international operational hub in Lisbon, Portugal. This expansion marks a significant milestone in the growth of the Upwork Marketplace, creating a new base for product development and technical hiring outside the U.S.
The new office is expected to be fully operational by Q4 2026 and is planned for the heart of Alcântara, a vibrant district at the intersection of business, creativity, and technology. The company has already begun hiring to support its expansion in the region.
Upwork Inc. President and CEO Hayden Brown announced the news alongside Lisbon Mayor Carlos Moedas during a press conference at Web Summit 2025 , the premier global technology event held annually in Lisbon. Brown also took the stage at the event to discuss how AI is fueling demand for skills that can’t be automated.
“Upwork is the 17th unicorn company to set up an office in Lisbon since we launched Unicorn Factory ,” said Carlos Moedas, mayor of Lisbon. “Our distinctive innovation strategy and strong positioning are clearly paying off, creating more and more job opportunities across the city – especially for young talent. Upwork is a dynamic and disruptive company, and we are thrilled to welcome them to Lisbon.”
"Lisbon is a natural choice for our first home outside the U.S.,” said Hayden Brown, president and CEO of Upwork Inc. “As the world’s human and AI-powered work marketplace, we believe that great talent can come from anywhere, and the city and region offer an exceptional pool of innovative, entrepreneurial, and forward-thinking professionals to contribute to our next phase of growth. We are deeply impressed by the local and national governments' sharp focus on making Portugal an attractive place to invest and grow in the EU."
The announcement follows a record-breaking Q3 for Upwork Inc., which saw a return to GSV growth driven by AI-powered product innovation and strong demand for talent with AI skillsets on the platform. GSV from AI-related work grew 53% year over year, underscoring the growing impact of generative AI across the Upwork Marketplace.
“Lisbon gives us a powerful advantage as we scale the Upwork Marketplace,” said Andrew Rabinovich, chief technology officer, head of AI/ML at Upwork Inc. “This hub will play a central role in further advancing our AI infrastructure—one of the strongest drivers for Upwork's next chapter of growth. I’m thrilled to build in a city that shares our energy, creativity, and belief in what’s possible.”
About Upwork Inc.
Upwork Inc.’s (Nasdaq: UPWK) family of companies connects businesses with global, AI-enabled talent across every contingent work type including freelance, fractional, and payrolled. This portfolio includes the Upwork Marketplace, which connects businesses with on-demand access to highly skilled talent across the globe, and Lifted, which provides a purpose-built solution for enterprise organizations to source, contract, manage, and pay talent across the full spectrum of contingent work. From Fortune 100 enterprises to entrepreneurs, businesses rely on Upwork Inc. to find and hire expert talent, leverage AI-powered work solutions, and drive business transformation. With access to professionals spanning more than 10,000 skills across AI & machine learning, software development, sales & marketing, customer support, finance & accounting, and more, the Upwork family of companies enables businesses of all sizes to scale, innovate, and transform their workforces for the age of AI and beyond.
Since its founding, Upwork Inc. has facilitated more than $30 billion in total transactions and services as it fulfills its purpose to create opportunity in every era of work. Learn more about the Upwork Marketplace at upwork.com and follow on LinkedIn , Facebook , Instagram , TikTok , and X ; learn more about Lifted at go-lifted.com and follow on LinkedIn .
Contact
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