Freelancing co Upwork climbs ahead of S&P SmallCap addition

Upwork's UPWK.O shares up 4.3% premarket to $19.34, nearly two-mth high, as freelance marketplace platform poised to join S&P SmallCap 600 index .SPCY later this week

Palo Alto, California-based UPWK to replace Premier Inc PINC.O in SPCY effective before the bell on Fri, Nov 28, S&P Dow Jones Indices said late Mon

Healthcare service provider PINC being acquired by PE firm Patient Square Capital in $2.6 bln deal expected to close today

UPWK has ~130.65 mln shares outstanding for $2.4 bln market cap

Through Mon close, UPWK shares climbed about 15% over the past week, putting them up ~13% YTD

At its investor day last week, co projected annualized growth of 7-9% for Gross Services Volume (GSV), 13-15% for rev and about 20% for adj EBITDA through 2028

7 of 11 analysts rate UPWK "strong buy" or "buy", 4 rate "hold"; median PT of $23 up from $19.50 a month ago, per LSEG data