FVRR - Down 44% in 2021 Is Fiverr a Buy for 2022?
Freelance platform Fiverr International (NYSE: FVRR) was an outstanding stock in 2020, gaining 730%. But that performance didn't continue into 2021, despite healthy growth and huge market opportunities. Fiverr's share price tanked 44% in 2021, and it's already sliding in 2022. But things can change quickly in this market. Does this low price spell opportunity for investors in 2022?
Fiverr was a favorite in 2020 as work-from-home mandates made its services very attractive. Fiverr operates a platform connecting freelancers and buyers, but it's slightly different from other freelancing sites, which may make all the difference. It uses an e-commerce style model that it calls "service-as-a-product," where freelancers, or sellers, offer their services pre-packaged as "gigs." Each gig has an attached price and clear scope, making for a transparent and straightforward vetting process, as well as a higher likelihood of a successful project outcome.
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Down 44% in 2021, Is Fiverr a Buy for 2022?