Gig Economy Stocks Q4 Recap: Benchmarking Upwork (NASDAQ:UPWK) [Yahoo! Finance]
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Source: Yahoo! Finance
performers in the gig economy industry, including Upwork (NASDAQ:UPWK) and its peers. The iPhone changed the world, ushering in the era of the “always-on” internet and “on-demand” services - anything someone could want is just a few taps away. Likewise, the gig economy sprang up in a similar fashion, with a proliferation of tech-enabled freelance labor marketplaces, which work hand and hand with many on demand services. Individuals can now work on demand too. What began with tech-enabled platforms that aggregated riders and drivers has expanded over the past decade to include food delivery, groceries, and now even a plumber or graphic designer are all just a few taps away. The 6 gig economy stocks we track reported a mixed Q4. As a group, revenues beat analysts' consensus estimates by 2.5% while next quarter's revenue guidance was in line. Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 11.9% since the latest earnings results.
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