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- 1 Wall Street analysts are expecting a strong growth in the Fiverr revenue as it approaches near its earning date
- 2 FVRR stock price is observing a weak downtrend in price. It is currently trading near the value of $24.16 with a small gain in intraday session
Fiverr is a freelance service marketplace which went public in 2019. It was listed at the price of $21 and has raised over $100 Million. Since it went public the stock price observed significant fluctuations. The current CEO of Fiverr is Micha Kaufman with a strong team working with him. Recently Fiverr CEO said that “ AI can be a powerful tool in the creative process,It is the human element that embuses work with originality”.
With the surge in freelancing many investors are expecting Fiverr to grow exponentially in the near future. A new study by Fiverr has shown that the recent layoffs has pushed people to adapt to freelancing more. The majority of marketing leaders now have freelancers in their teams as it gives more flexibility to them.
On October 2 2023, Bloomberg ratings reported that Fiverr has received a moderate buy ratings. Many analysts are expecting a strong growth rate in the company in next quarter.
Will FVRR Stock Hit $40 After The Earnings?
Fiverr has a market cap of $927 Million with a small EPS and 1.71 Beta. While various analysts are expecting a rise to $40 as a 1 year target. It is currently trading near the value of $24.16 with a loss of 0.46% in the intraday session. FVRR stock price upside trend can see a halt near the value of $30. Meanwhile, the support of the asset price can be observed near $20.
FVRR stock price is trading below the 50 and 100 Daily Moving Averages. It can act as a resistance for the price. If the price jumps above the DMA then a strong momentum to a new high can be observed.
Summary
Fiverr is currently in the eyes of every analyst as it is reaching towards its earnings date. Various analysts are expecting a strong growth in the revenue. FVRR stock price is currently in a consolidated trend but can see a reversal in the future.
Technical Levels
Major Support: $20
Major Resistance: $30
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
