With the uptick in remote work opportunities, more companies are turning to freelancing marketplaces and outsourcing to find skilled workers, where ever they may be based. Fiverr (FVRR) is well-positioned to capture revenues from the growing popularity expert contract employees.
By the numbers:
Shares of Fiveer gained 11.64% over the past month, outpacing the Retail-Wholesale sector's gain of 5.08% and the S&P 500's gain of 4.63% in the same period
Wall Street Analysts currently forecast a +56.9% increase in FVRR’s stock price over the next 12 months.
What's next: Fiverr continues to see significant growth, demonstrated by its acquisition of global freelance creative network Working Not Working, which sources freelance creatives for the likes of Netflix, and Spotify. It may face growing competition in the space as UpWork and Microsoft owned LinkedIn grab up market share, but Fiverr may be able to leverage its first mover advantage.
Looking to capitalize on the expected growth of the gig economy? Consider adding a high probability outcome on FVRR to your portfolio.