Online freelance marketplace Fiverr (NYSE: FVRR) will be reporting earnings tomorrow morning. Here's what you need to know.
Last quarter Fiverr reported revenues of $83.1 million, up 4.23% year on year, missing analyst expectations by 0.39%. It was a weak quarter for the company, with underwhelming revenue guidance for the full year and slow revenue growth. The company reported 4.3 million active buyers, up 2.38% year on year.
Is Fiverr buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Fiverr's revenue to grow 1.17% year on year to $87.7 million, slowing down from the 26.9% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.24 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates three times over the last two years.
Looking at Fiverr's peers in the consumer internet segment, some of them have already reported Q1 earnings results, giving us a hint what we can expect. Lyft delivered top-line growth of 14.3% year on year, beating analyst estimates by 1.89% and Angi reported revenue decline of 10% year on year, exceeding estimates by 2.11%. Lyft traded down 10.8% on the results, Angi was up 8.43%. Read our full analysis of Lyft's results here and Angi's results here.
Tech stocks have been facing declining investor sentiment in 2022 and while some of the consumer internet stocks have fared somewhat better, they have not been spared, with share price declining 4.94% over the last month. Fiverr is down 18.8% during the same time, and is heading into the earnings with analyst price target of $49.7, compared to share price of $28.77.
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The author has no position in any of the stocks mentioned.