Almost two months back, Fiverr International (NYSE: FVRR) witnessed a spectacular initial public offering. The company had issued 5.3 million shares for $21 apiece, and at the end of its first trading day, the stock price had climbed almost 90%.
EARNINGS OUT: Fiverr surprises the market by cutting down losses in Q2
However, the stock failed to hold investor interest post this. Currently, it is trading 17% above its trading price.
The company, which offers a platform for people to sell and buy digital services, is now slated to report its first maiden quarterly results as a public company on Thursday, August 8, before the regular trading hours. The Israeli firm will be hoping to see some momentum post the earnings release.
For the second quarter of 2019, analysts expect the company to report a loss of 42 cents per share on revenues of $24.09 million. In the past one week, the average earnings estimate has been widened by 3 cents, which does not provide a good picture ahead of earnings.
However, Fiverr has been pretty consistent with top-line growth. In the first quarter of this year, it had posted 42% growth, while in the last year, it grew 45%. The market expects to see similar kind of growth this year and next year as the company robustly keeps adding to its freelancer base.
To Fiverr critics, lack of profitability is the biggest turn-off factor. And the company has been trying to overcome this through a number of innovative ways – including a “studio” feature that allows freelancers to come together as teams to work on bigger projects, as well as the introduction of gaming services to benefit from the rising popularity of this industry.
Recently the company had announced that PUBG and Fortnite experts who will be available to coach players on the platform. These new additions are expected to boost overall results in Q2.
The stock has a mixed opinion in the market: it has three Buy and three Hold ratings, according to TipRanks. The stock has a 12-month average price target of $31, suggesting upside of 26% from Wednesday’s trading price.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
MCD Earnings: McDonald’s comp sales up 12.6% in Q4; profit increases
Fast-food chain McDonald’s Corporation (NYSE: MCD) on Tuesday reported an increase in adjusted earnings for the fourth quarter of 2022 when its revenues remained broadly unchanged. The company said fourth-quarter
GM Earnings: All you need to know about General Motors Q4 2022 earnings results
General Motors Co. (NYSE: GM) reported fourth quarter 2022 earnings results today. Revenue increased 28.4% year-over-year to $43.1 billion. Net income attributable to stockholders increased 14.8% to $2 billion while EPS rose 19.8%
CAT Earnings: Highlights of Caterpillar’s Q4 2022 results
Construction-equipment manufacturer Caterpillar Inc. (NYSE: CAT) reported double-digit growth in fourth-quarter revenues and adjusted earnings. Adjusted net profit increased to $3.86 per share in the December quarter from $2.69 per
