#7 - Fiverr (NYSE:FVRR)
Fiverr (NYSE:FVRR) is another stock that is benefiting from the growth of the gig economy. The Israeli company went public in 2019 and saw explosive growth during the pandemic as many workers chose to try their hand at freelancing either by choice or necessity. And when FVRR stock was trading for over $300 a share almost 11 months ago, we would have been advising you to pump the brakes on this high flier.
However, as the saying goes, “that was then.” Today, FVRR stock is down 74% from its 52-week high and looks like a strong value among tech stocks. The company has reported sequentially higher earnings in each of its first eight quarters. And the company has beaten analysts EPS expectations in every quarter and posted positive earnings in five of its last six quarters.
The company has used its positive free cash flow position to acquire CreativeLive and Stoke Talent. Both acquisitions support the company’s business model and should provide another source of revenue for the company to continue its growth.
About Fiverr International
Fiverr International Ltd. operates an online marketplace worldwide. Its platform enables sellers to sell their services and buyers to buy them. The company's platform includes various categories in ten verticals, including graphic and design, digital marketing, writing and translation, video and animation, music and audio, programming and tech, business, data, lifestyle, and photography.
Read More - Current Price
- $32.28
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 5 Buy Ratings, 5 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $32.30 (0.1% Upside)
Deloitte reports that in 2022, the tech sector will continue to work through pandemic-related challenges such as the ongoing disruptions to the supply chain. But they will also be helping companies manage a hybrid workforce which creates fluctuating IT needs. And the tech sector will also not be immune to the spotlight that is being put on the issue of climate change.
That means that whatever is happening in the tech sector today is likely to be transient at some point. And growth investors should continue to look for quality stocks in this sector. With that said, our omission of the FAANG stocks was intentional. Many, if not all, of these stocks are likely to bounce back in a big way.
However, the tech sector has a depth and breadth like never before. And that gives investors an opportunity to find growth in stocks that may carry a more attractive valuation. So for the purposes of this presentation we wanted to provide you with exposure to some of these compelling stocks.
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