Fiverr International Ltd (NYSE: FVRR) stock price closed Friday with all time high price of $59.04. Which is, by itself, an incredible feat.
I wrote about FVRR stock earlier in April and on May 8th I told you that stock will go above $50 before summer.
Now that we already saw stock price above $50 it remains for us to see if the shares of FVRR stock have enough power to reach $100.
In my previous article I said “if FVRR continues good performance it may go up to 3 digits this year” and I still think this can happen.
Economies are weak. Yes, everyone is starting to gradually open up but with so many jobs lost, there will be plenty of desperate people trying to earn their living online, on sites like Fiverr.
If you check out Twitter feed for “Fiverr” keyword you will see that every 10-ish seconds someone posts a link to their gig®. Here is a good example of one of those gigs. The guy posted a link to his voiceover service.
His service is $33. Which is 7 times higher than what the original price ($5) for all services on Fiverr was when the site started 10 years ago.
Higher the gig price, more money for FVRR, more money for FVRR, the higher stock price goes.
According to the press release from Thursday six in ten freelancers (59%) expect to make more or about the same revenue in 2020 as they did in 2019.
Back to FVRR stock price projection. Of course no one knows if the stock will hit $100 mark this year, but I am confident it wont stop at $59. Lets wait FVRR Q2 results and we will know much more.