FVRR - Why Fiverr Stock Was Down Nearly 10% Today
Shares of freelancing platform Fiverr (NYSE: FVRR) finished the day down 9.8% after reporting a strong finish to 2021 but issuing preliminary guidance for 2022 that disappointed some investors. Few have wanted to touch this stock after it exploded higher in 2020. Shares are now down nearly 80% from their all-time high reached early in 2021.
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Fiverr actually put up great numbers in the fourth quarter of 2021 , posting full-year sales growth of 57%. It was also free cash flow positive when excluding the acquisition of fellow freelance work company Stoke Talent. Free cash flow was $36.3 million, up 142% from 2020 and good for a free cash flow profit margin of 12%. Not bad for a company spending heavily to maximize expansion.
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Why Fiverr Stock Was Down Nearly 10% Today