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Fiverr (FVRR) to Report Q1 Earnings: What's in the Cards?
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Fiverr International Ltd. (FVRR - Free Report) is set to report first-quarter 2023 results on May 11.
For the first quarter, the company expects revenues of $86.5-$88.5 million, flat to up 2% from the year-ago reported figure. The Zacks Consensus Estimate for the same is pegged at $87.5 million, suggesting growth of 0.9% from the prior-year quarter’s reported number.
The Zacks Consensus Estimate for first-quarter earnings is pegged at 24 cents per share, suggesting a jump from prior-year quarter’s reported figure of 11 cents.
Fiverr earnings beat estimates in all the trailing four quarters, the average being 69.1%.
Fiverr’s platform is expected to have benefited from the increasing remote working trend. Notably, the platform connects people, offering logo, poster and brochure designing, photoshop editing, content marketing, web analytics, translation, and other services, with people outsourcing such work to freelancers.
The company's strong focus on product and technology enhancements is expected to get reflected in the to-be-reported results.
Moreover, Fiverr’s accelerated Artificial Intelligence (AI) efforts to deliver a personalized experience and enhanced customer support are anticipated to have benefited the first-quarter performance.
Growing momentum across Promoted Gigs, Seller Plus and cash advance programs is expected to have aided the company in gaining traction among freelancers during the first quarter, which in turn is likely to contribute well to the upcoming results.
Furthermore, solid momentum among the large wallet customers might have been a major positive.
Additionally, strong growth in the company’s take rate, driven by value-added services, is expected to have continued in the quarter under review, which, in turn, is expected to have contributed to the top line.
Strong momentum across non-paid traffic on the back of strong brand awareness and continued engagement among existing customers is likely to have remained a positive.
However, macroeconomic uncertainties are anticipated to have been concerns in the quarter to be reported.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Fiverr International this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Fiverr International has an Earnings ESP of 0.00% and a Zacks Rank #3 at present.
Stocks to Consider
Here are some stocks worth considering as our model shows that these have the right combination of elements to beat on earnings this season.
DOCN is scheduled to release first-quarter 2023 results on May 9. The Zacks Consensus Estimate for DOCN’s earnings is pegged at 29 cents per share, suggesting a jump from 7 cents per share reported in the prior-year quarter.
Agilent Technologies (A - Free Report) has an Earnings ESP of +0.40% and a Zacks Rank #2 at present.
Agilent Technologies is set to report second-quarter fiscal 2023 results on May 23. The Zacks Consensus Estimate for A’s earnings is pegged at $1.27 per share, suggesting an increase of 12.4% from the prior-year quarter’s reported figure.
Cisco Systems (CSCO - Free Report) has an Earnings ESP of +1.59% and a Zacks Rank #3 at present.
CSCO is scheduled to report third-quarter fiscal 2023 results on May 17. The Zacks Consensus Estimate for CSCO’s earnings is pegged at 97 cents per share, suggesting an increase of 11.5% from the prior-year quarter’s reported figure.
Image: Bigstock
Fiverr (FVRR) to Report Q1 Earnings: What's in the Cards?
Fiverr International Ltd. (FVRR - Free Report) is set to report first-quarter 2023 results on May 11.
For the first quarter, the company expects revenues of $86.5-$88.5 million, flat to up 2% from the year-ago reported figure. The Zacks Consensus Estimate for the same is pegged at $87.5 million, suggesting growth of 0.9% from the prior-year quarter’s reported number.
The Zacks Consensus Estimate for first-quarter earnings is pegged at 24 cents per share, suggesting a jump from prior-year quarter’s reported figure of 11 cents.
Fiverr earnings beat estimates in all the trailing four quarters, the average being 69.1%.
Fiverr International Price and EPS Surprise
Fiverr International price-eps-surprise | Fiverr International Quote
Key Factors to Note
Fiverr’s platform is expected to have benefited from the increasing remote working trend. Notably, the platform connects people, offering logo, poster and brochure designing, photoshop editing, content marketing, web analytics, translation, and other services, with people outsourcing such work to freelancers.
The company's strong focus on product and technology enhancements is expected to get reflected in the to-be-reported results.
Moreover, Fiverr’s accelerated Artificial Intelligence (AI) efforts to deliver a personalized experience and enhanced customer support are anticipated to have benefited the first-quarter performance.
Growing momentum across Promoted Gigs, Seller Plus and cash advance programs is expected to have aided the company in gaining traction among freelancers during the first quarter, which in turn is likely to contribute well to the upcoming results.
Furthermore, solid momentum among the large wallet customers might have been a major positive.
Additionally, strong growth in the company’s take rate, driven by value-added services, is expected to have continued in the quarter under review, which, in turn, is expected to have contributed to the top line.
Strong momentum across non-paid traffic on the back of strong brand awareness and continued engagement among existing customers is likely to have remained a positive.
However, macroeconomic uncertainties are anticipated to have been concerns in the quarter to be reported.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Fiverr International this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Fiverr International has an Earnings ESP of 0.00% and a Zacks Rank #3 at present.
Stocks to Consider
Here are some stocks worth considering as our model shows that these have the right combination of elements to beat on earnings this season.
DigitalOcean (DOCN - Free Report) has an Earnings ESP of +3.45% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
DOCN is scheduled to release first-quarter 2023 results on May 9. The Zacks Consensus Estimate for DOCN’s earnings is pegged at 29 cents per share, suggesting a jump from 7 cents per share reported in the prior-year quarter.
Agilent Technologies (A - Free Report) has an Earnings ESP of +0.40% and a Zacks Rank #2 at present.
Agilent Technologies is set to report second-quarter fiscal 2023 results on May 23. The Zacks Consensus Estimate for A’s earnings is pegged at $1.27 per share, suggesting an increase of 12.4% from the prior-year quarter’s reported figure.
Cisco Systems (CSCO - Free Report) has an Earnings ESP of +1.59% and a Zacks Rank #3 at present.
CSCO is scheduled to report third-quarter fiscal 2023 results on May 17. The Zacks Consensus Estimate for CSCO’s earnings is pegged at 97 cents per share, suggesting an increase of 11.5% from the prior-year quarter’s reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.