Long Position on FVRR @ $59.00 on 5/19/2020 (Momentum)

Fiverr International Ltd. (FVRR) operates an online marketplace worldwide.

Its platform enables sellers to sell their services and buyers to buy them.

The company's platform includes approximately 200 categories in 8 verticals, including graphic and design, digital marketing, writing and translation, video and animation, music and audio, programming and technology, business, and lifestyle.

Its buyers include businesses of various sizes, as well as sellers comprise a group of freelancers and small businesses. 

Fiverr International reported a 1st Quarter March 2020 loss of $0.16 per share on revenue of $34.2 million. on revenue of $33.0 million.

The company said it expects second quarter revenue of $35.5 million to $36.5 million and now expects 2020 revenue of $145.5 million to $147.5 million. The company's previous guidance was 2020 revenue of $139.0 million to $141.0 million. The current consensus estimate is revenue of $33.3 million for the quarter ending June 30, 2020 and revenue of $140.3 million for the year ending December 31, 2020.

The upward trend in earnings could translate into buying pressure and therefore the stock should see an increase in stock price.

Entry point: $59.00

52-week trade range: $17.11 - $65.86

Stop/Loss: $56.00

Target Price: $64.90

Updates

5/20/2020 11:00:40 AM

FVRR closed at $65.55

Position closed on 5/20/2020 at price of $65.55 with a 11.10% gain in 1 days.

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