Fiverr International FVRR shares rallied 5.8% in the last trading session to close at $26.67. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 9.4% gain over the past four weeks.
Shares of FVRR are benefitting from growing demand for AI-related services and the platform’s deeper push into higher-value, upmarket transactions.
This online marketplace for freelance services is expected to post quarterly earnings of $0.70 per share in its upcoming report, which represents a year-over-year change of +9.4%. Revenues are expected to be $108.04 million, up 8.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Fiverr, the consensus EPS estimate for the quarter has been revised 4.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on FVRR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Fiverr is a member of the Zacks Internet - Commerce industry. One other stock in the same industry, Coupang, Inc. CPNG, finished the last trading session 1.7% lower at $32.86. CPNG has returned 18.4% over the past month.
For Coupang, the consensus EPS estimate for the upcoming report has changed -38.5% over the past month to $0.04. This represents a change of -33.3% from what the company reported a year ago. Coupang currently has a Zacks Rank of #4 (Sell).
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Fiverr International (FVRR): Free Stock Analysis Report Coupang, Inc. (CPNG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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