Why Fiverr Stocks Rised This Week

Mixed reactions from experts International Fiverr‘S (FVRR 2.28%) Q2 results sent the company’s shares up pleasingly — if not overwhelmingly — by the end of the trading week. Fiverr’s share price rose nearly 5% during the period, according to data compiled by S&P Global Market Intelligence.

Higher financial result and takeover

Fiverr’s second-quarter results showed growth in key areas. Sales for the period rose nearly 6% year over year to $94.7 million. That translated to non-GAAP (adjusted) net income of $23.8 million, or $0.58 per share. That improved year-ago profit by 19%.

Those headline numbers were fairly close to analysts’ average estimates for the quarter, coming in just below $94.7 million in revenue and $0.55 per share in adjusted net income.

Fiverr also provided guidance for both the current (third) quarter and for the full year of 2024. Revenue is expected to be between $383 million and $387 million; these forecasters combined are modeling just over $384 million. Earnings before interest, taxes, depreciation, and amortization (EBITDA) should be between $69 million and $73 million. No net income guidance was provided.

Along with the earnings, Fiverr announced it had acquired dropshipping automation software specialist AutoDS. It did not provide any financial details about the deal.

Cautious optimism from experts

As these fundamentals rose, several analysts cautiously raised their price targets for the company. Among them was JPMorgan ChaseDoug Anmuth of ‘s, who added $1 to his fair value estimate to arrive at a new $31 per share. However, he maintained his neutral rating on the company.