Fiverr (FVRR) stock is up 600%, It’s Time To Book Profits – Idaho Reporter

FVRR Stock

Fiverr (FVRR) stock is up 600%, It’s Time To Book Profits

Fiverr (NYSE:FVRR) stock is having a ball, but is the party over for now?

After a 700% rally since March 19, FVRR stock looks fully valued for now, no matter how the Q3 results will look like. Fiverr, an online marketplace, has seen its stock rally from $20 to $152 compared to the S&P which moved around 50%. The stock is slightly ahead of the overall markets as investor sentiment is positive toward online marketplaces and work from home economy due to no direct Covid-19 impact.

Back in May, when FVRR stock was below $40, I said that Fiverr could see price tag above $100 this year and seems like I was right, once again. If you invested back then, and I hope you did, you can now take a lot of money off the table and into your pockets.

Q3 Fiverr results will probably be great, but…

On October 28 FVRR will hold Third Quarter 2020 Financial Results Conference Call where once again everyone expects good numbers. I expect them too, but in my opinion good Q3 results are already baked in the price.

Having a $5.5 billion market cap makes Fiverr a really expensive company at the moment. Seems like it is fully valued now .Revenue growth, even though significant, is not justifying the price tag of $152.55 that we saw on Wednesday.

I believe the stock is unlikely to see a significant upside after the recent rally and the potential weakness from a recession-driven by the Covid outbreak.

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