|Bid||23.01 x 800|
|Ask||24.38 x 1800|
|Day's Range||23.37 - 24.13|
|52 Week Range||22.14 - 44.25|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
CannTrust, BMW, Fiverr, CrowdStrike and Sony are the companies to watch.
On Thursday, Slack will be the latest tech company making its market debut. Unlike other tech IPOs like Uber and Lyft, Slack is going the route of direct listing. Professor Michael Wade of the IMD Business School joined The Final Round to discuss.
Slack is expected to go public on Thursday. Yahoo Finance's Zack Guzman, Sibile Marcellus & Emily McCormick, along with 'The Latte Factor' author David Bach discuss.
Fiverr on Thursday unveiled an online store focused on the booming interest in video and mobile games that will let game experts sell their special skill sets to prospective players. Fortnite and PUBG have been worldwide runaway successes.
Fiverr (FVRR), the company that is changing how the world works together, took a significant step today in expanding its e-commerce catalogue by introducing its first dedicated store for gaming-related digital services. Customers can now purchase high quality services in 30 categories related to gaming industry such as character modeling, game writing and trailers from skilled developers, designers and videographers. “Over the last year, Fiverr has seen rapid organic growth in gaming-related purchases from buyers and gig registrations by sellers,” said Micha Kaufman, Fiverr CEO.
Shares are lower Monday after a half-dozen analysts picked up coverage of the newly public Fiverr, which operates a marketplace for a range of freelance services.
(Bloomberg) -- The end of Fiverr International Ltd.’s quiet period led to mixed ratings from Wall Street, however analysts mostly agree the online marketplace is well positioned in the growing gig economy but voiced concerns about the company’s lack of profitability.Fiverr is poised to benefit from the evolving workplace environment, JMP notes, citing a McKinsey prediction that about 50% of workers are expected to be freelancers by 2027. Yet, UBS cautions that there’s some uncertainty from investors concerning the long term path to profitability "given the early stage nature of this industry.""Breakeven could be a few years out, and investors may need to be patient," a Citi analyst wrote.The stock earned three buy-equivalent ratings and four holds, according to Bloomberg data. Fiverr shares are down 4% in early trading Monday.Here’s a roundup of analysts initiation notes:Needham, Brad Erickson“Fiverr combines an attractive secular narrative around the gig economy labor mix shift with a purposefully fragmented structure that we think the market under-appreciates.""We look for better active buyer adds, expansion into adjacent software/services, and faster localization efforts to all act as sources of upside.”Needham estimates 2019 and 2020 revenue growth of 31% and 27%, respectively, with Ebitda profitability “probable by 2022.”Initiates with a buy rating, “given its category leadership, strong competitive moat, high growth rate"; sets price target at $31.Notes risks, saying “the company’s current loss-making profile may invite questions around customer acquisition efficiency.”JMP, Ronald JoseyStarts coverage with a market outperform rating, noting the expected shift to freelance work in the next 10 years."The evolving workplace environment" underlies the firm’s positive view on Fiverr. "Approximately 50% of workers are expected to be freelancers by 2027, according to McKinsey, and there are ~160 million freelancers currently in the U.S. and Europe engaged in independent work."“Fiverr’s Service-as-a-Product marketplace delivers a more friction-free transaction across its 2.1 million active buyers and 255,000 active freelancers across 200+ categories of ’gigs.’”JMP calculates Fiverr’s total addressable market at about $160 billion, and sees it expanding as new categories, verticals and products launch.JMP has a Street-high price target of $33.JPMorgan, Doug Anmuth“Fiverr has scale — 2.1 million active buyers and 255,000 active sellers transacting across 200+ categories — that we believe will continue to expand driven by the platform’s powerful network effects.”The company provides greater transparency and removes friction for its highly fragmented user base, which help support its “attractive 25%+ take-rate.”JPMorgan expects revenue growth to decelerate to 31% in 2019 and 26% in 2020 compared to the 45% growth in 2017 and the 42% year-over-year gain seen in the first quarter of 2019. The firm also estimates Ebitda margins at negative 23% and negative 18% in 2019 and 2020, respectively. Fiverr is “still a few years out from achieving breakeven.”While JPMorgan recognizes that there’s is upside potential to its estimates, the firm also believes that a “bigger premium will require a few quarters of strong execution as a public company.” Initiates with a neutral rating and a price target of $30.Citi, Mark May"Two of the most disruptive trends in business today are 1) the power of e-commerce to provide convenience and selection for consumers that increasingly prefer on-demand experiences and 2) the desire of people to have greater flexibility in their work life."As one of the largest online marketplaces for digital services, Fiverr is benefiting from these secular trends.Citi is projecting a 23% five-year CAGR in revenue. “We believe that category expansion, product innovation, and greater brand/service awareness have the potential to drive higher growth.”However, it may be a few years from now that the company reaches “breakeven.” “Investors may need to be patient – and the company may need to continue to provide data to reinforce its buyer economics.”“Assuming that the company can achieve $600 million in revenues and a mid-20% Ebitda margin in year ten, our DCF-based valuation model suggests that a 12-month target price of $31 is reasonable.” Citi initiates coverage with a neutral rating.UBS, Eric SheridanUBS begins coverage on Fiverr with a neutral rating and a price target of $29 per share.Fiverr is well positioned to capitalize on the evolution of the Gig economy. The long-term growth potential for Fiverr lies in:The secular trends of increasing prevalence of flexible workforces and changes in how people workThe shift toward online distribution and booking of these servicesMore categories and depth of services offered on the platformGeographic expansionUBS projects that the company grows revenue at a 24% 2018-2023 CAGR, reaching $225 million in 2023. “While core marketplace commissions are expected to remain stable in 2019 and 2020, additional service revenues should act as a tailwind to blended take rate going forward.”“On the downside, we focus on path to profitability and competition.” UBS believes there’s “some degree of uncertainty from investors when thinking about the long-term path to profitability and margin goals given the early stage nature of this industry.”To contact the reporter on this story: Janet Freund in New York at email@example.comTo contact the editors responsible for this story: Catherine Larkin at firstname.lastname@example.org, Will DaleyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Shares of Fiverr International Ltd. are up 0.8% in premarket trading Monday after Needham and Oppenheimer initiated coverage of the freelance-marketplace stock with bullish ratings. Needham's Brad Erickson is upbeat about how the lifetime value of Fiverr buyers, or those who hire freelancers through the service, continues to rise. This suggests to him that Fiverr "can continue to spend aggressively to acquire new customers while importantly being nowhere near exhausting spend/buyer increases." He set a buy rating and $31 target on the stock. Oppenheimer's Jason Helfstein started coverage with an outperform rating and $32 target, writing that the company looks "well positioned to capitalize on a shift in the labor market toward more independently-driven opportunities made possible through digitization." Helfstein sees a large market opportunity for the company as only 3% of freelancing jobs are completed online currently. Fiverr went public in June and its shares are currently trading up 30% from their offering price of $21. Fiverr made its public debut during a strong year for recent initial public offerings; the Renaissance IPO ETF is up 38% so far in 2019, while the S&P 500 has gained 19%.
While May was marked by Uber’s (UBER) flop IPO, June saw three sharing economy IPOs do great on their debuts, meaning windfall gains for early investors.
FIVERR (FVRR), the company that is changing how the world works together, today announced a multi-faceted collaboration with comedian and actress Lilly Singh. Lilly Singh is a self-made entrepreneur who became known to the world through her comedic and inspirational digital content and will host NBC’s A Little Late with Lilly Singh starting this fall. As part of this collaboration, she is offering her creative consulting services on Fiverr Pro, a platform of top-quality, hand-vetted professional freelancers, as a limited edition Gig.
Fiverr International Ltd. , the company that is changing how the world works together, today announced that it will be releasing its second quarter 2019 financial results for the period ended June 30, 2019, before the market opens on Thursday, August 8, 2019.
Stocks initially rallied on Friday, but pared a lot of those gains in the afternoon session. Thanks to a late-day surge, we saw a 0.46% gain on the Nasdaq today. Investors are trying to position themselves ahead of the weekend as the G20 summit is underway and President Trump is set to meet with President Xi to discuss trade.Source: Shutterstock Further, the end of Friday's trading session marks the end of the second quarter for the stock market. While it seems long forgotten, the markets are still trying to stabilize following the fourth quarter volatility.From peak to trough, the Nasdaq fell about 20% in the fourth quarter. But it set up a wicked first-quarter bounce. The index rallied 16.5% in the first quarter and briefly hit new highs in the second quarter. With a wavering trade-war situation though, Q2 has been more of a digestion quarter, with the index up about 2%.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 6 Worst S&P 500 Stocks of 2019 (So Far) Where does that leave it for the second half of the year? The Nasdaq's Third-Quarter Outlook Click to EnlargeAs much as I don't want to say it, so much of how the index will do next quarter may depend on the trade war situation. I'm sick of it and so is everyone else. But if we get some progress toward a deal, semiconductors, memory makers and global economies can all see a recovery. This could pave the way for the Nasdaq to hit new highs sometime in the next 90 days.If the trade situations worsens -- perhaps with Trump ratcheting up more tariffs or with China trying to play the waiting game for the next U.S. election -- then we very well could see some selling pressure.From a purely technical outlook, the Nasdaq looks good. 8,100 has been resistance, but the sharp rally from 7,300 to 8,100 and slight pullback has the index looking primed for more upside. Unfortunately though, there's more to consider than the charts.If the trade situation worsens, I expect the Nasdaq to lose the 50-day moving average. If it does, a decline down to the 200-day moving average at 7,512 could be in the cards. Below that is range support near 7,300, which would mark a near-10% decline from the recent highs at 8,088. Winners in the Nasdaq TodayThe RealReal (NASDAQ:REAL) hit the public markets on Friday. Shares priced at $20 apiece, above its initial range of $18 to $19. Even then, the stock was able to maintain momentum, closing at $28.90 and up 44.5% on its first day of trading. The IPO market remains red hot, but investors are likely wondering if REAL will cool off a bit like Chewy (NYSE:CHWY), Slack (NYSE:WORK) and Fiverr (NYSE:FVRR) -- all of which logged nice gains on Friday too.Western Digital (NASDAQ:WDC) caught a big boost, rising 6.7% on more than two-times regular volume. Despite a bearish analyst call on Thursday, the stock is storming higher after a power outage at one of its production facilities in Japan. Analysts at Morgan Stanley -- which has an equal-weight rating and $46 price target -- said it shouldn't have a big impact.More momentum in biotech continued. Invitae (NASDAQ:NVTA) logged massive gains on Friday, up 8.9%. Sarepta Therapeutics (NASDAQ:SRPT) surged 17.1%, while Alexion Pharmaceuticals (NASDAQ:ALXN), Illumina (NASDAQ:ILMN) all sported solid gains on the day. The genomics trade is doing well over the past few days. Losers in the Nasdaq TodayCisco Systems (NASDAQ:CSCO) took a tumble on Friday, falling 3% at one point. While support is nearby, one can't help but wonder if Micron's (NASDAQ:MU) newfound momentum is bad news for CSCO. The company is a DRAM buyer, which has been under pressure for the past few quarters. While a rise in cost wouldn't be a death-blow to Cisco, it could create a solid buying opportunity in the name on further weakness.Apple (NASDAQ:AAPL) stock slipped about 1% on Friday on news that its chief design officer (CDO) Jony Ive is leaving the company to start his own company. Don't worry, everyone. Apple will be a client of Ive's new company. After 27 years at Apple and 23 years as its CDO, Ive has earned the right to call his own shots. Apple should still be okay too, given its powerful balance sheet.Unlike many others in the biotech sector -- which rallied 1.75% on Friday -- Biogen (NASDAQ:BIIB) wasn't feeling too hot. Shares slipped over 2% after the stock was downgraded to neutral by Piper Jaffray analysts. * 10 Small-Cap Stocks That Look Like Bargains Last but not least, there's Roku (NASDAQ:ROKU). For a stock that's still up 31% in Q2 and 195% for the year, the stock isn't ending the quarter on a particularly high note. The stock is now about 15% off its highs and slipping almost 3% on Friday alone. News of a competing smart TV from Amazon (NASDAQ:AMZN) earlier in the week continues to hang over the stock. How long into Q3 before Roku shakes off this news?Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long AMZN, ROKU, NVTA and AAPL. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 7 Top Small-Cap Stocks Of 2019 * Critical Levels to Watch in 7 Marijuana Stocks * 5 Smaller Cloud Stocks That Have Plenty of Potential Compare Brokers The post Nasdaq Today: Apple Loses Ive and the Nasdaqas Q3 Outlook appeared first on InvestorPlace.
Shares if Upwork Inc. are up 6.1% in premarket trading Wednesday after Jefferies analyst Brent Thill upgraded the stock to buy from hold. "With the stock down 17% YTD and valuation at a 37% discount to peers, risk/reward has improved," Thill wrote. "The recent IPO of Fiverr demonstrated the large market for flex labor and evidenced Upwork's leadership within it." Thill expects that Upwork's first-quarter revenue-growth rate was likely the bottom and he predicts "gradual acceleration" on the metric as the year continues. He has a $23 price target on the stock. Upwork shares have fallen 25% over the past three months, as the S&P 500 has gained 3.5%.
A New York-based online freelance marketplace found the Orlando metro area is one of the top 25 largest markets for freelance employees. Fiverr International Ltd. (NYSE: FVRR) ranked the city at No. 25 for projected 2018 workforce and revenue as part of its Freelance Economic Impact Report. The annual list ranks the largest freelance markets in the U.S. by the population of total freelancers and amount of projected revenue created.
Slack’s public debut is a little different. Slack is following the direct public offering route to list its stock on the NYSE. Unlike an IPO, companies don’t raise any money through a DPO. Instead, they give an exit opportunity to their shareholders. There is no investment banker to market the shares and hold them to reduce volatility. Last year, Spotify (SPOT) followed this route.
Austin and Nashville highlighted as the two fastest growing markets for skilled freelance workers
Despite major flops from some of the tech world’s biggest unicorn IPOs this year, including the lackluster performance of ride hailing companies Uber Technologies Inc. (UBER) and Lyft Inc. (LYFT), tech IPOs are up roughly 30% in 2019 on average, per Dealogic.
European Central Bank President Mario Draghi turned ultra-dovish in a speech in Portugal on Tuesday. Is this a motivation for Federal Reserve Chairman Jerome Powell and his cohorts to cut interest rates as they meet this week? President Trump on Tuesday blasted Draghi because stimulus in Europe means a lower euro versus the dollar, giving an edge to European companies in their exports to the U.S. On the other hand, the U.S. stock market is encouraged by Trump’s tweet of a “very good” phone call with President Xi of China and the news of an extended meeting with him at the G20.