Why Fiverr Stock Was Rising This Week

Mixed reactions from pundits to Fiverr International‘s (FVRR 2.28%) second-quarter results left the company’s stock satisfyingly — if not overwhelmingly — higher as the trading week came to a close. According to data compiled by S&P Global Market Intelligence, Fiverr’s stock price increased by nearly 5% over the period.

A bottom-line beat and an acquisition

Fiverr’s Q2 results revealed growth in key line items. The period’s sales rose by nearly 6% year over year to hit $94.7 million. This filtered down into a non-GAAP (adjusted) net income of $23.8 million, or $0.58 per share. That bettered the year-ago profit by 19%.

Those headline figures came quite close to the average-analyst estimates for the quarter. These stood at just under $94.7 million for revenue, and $0.55 per share for adjusted-net income.

Fiverr also proffered guidance for both its current (third) quarter and the entirely of 2024. It’s expecting $383 million to $387 million in revenue; those prognosticators are collectively modeling just over $384 million. Earnings before interest, taxes, depreciation, and amortization (EBITDA) should come in at $69 million to $73 million. No net-income guidance was provided.

Concurrently with earnings, Fiverr announced it has acquired drop-shipping automation-software specialist AutoDS. It did not provide any of the financial particulars of the deal.

Cautious optimism from the pundit set

With those fundamentals ticking higher, several analysts cautiously raised their price targets on the company. Among these was JPMorgan Chase‘s Doug Anmuth, who added $1 to his fair-value assessment for a new level of $31 per share. However, he maintained his neutral recommendation on the company.