Jul. 1 at 9:17 PM
$EPWK is handsomely barcoding and everyone’s bored, so I figured I’d share my initial thesis behind this trade. Last year,
$EPWK reported about
$20M in revenue.
$FVRR does around
$360M and trades at a ~
$1B market cap—about 2.7x revenue.
$UPWK does ~
$700M and trades at ~
$1.6B, or 2.3x revenue.
$EPWK is smaller, but with 20M+ users,
$350M GMV, and early global expansion, a 3-5x revenue multiple is a reasonable baseline, not a stretch. That points to a
$60M-
$100M market cap, or 4-7 times its post-beatdown value—right around the
$4 level, which is also where that sexy gap is. Yes, it’s been crushed by thin float volatility, algo panic, and normal post-IPO noise, but the fundamentals show clear upside. And no, this isn’t pumping—it’s just basic math. Stay strong!
