Here's Why Fiverr Stock Took a Nosedive Today

Before the opening bell on Wednesday, Fiverr International (NYSE: FVRR) reported first-quarter earnings and revenue that were ahead of analysts' consensus estimates. Even so, the stock plummeted in morning trading as investors looked past the company's solid results and focused on the fact that management cut its 2022 revenue guidance. 

Fiverr's shares were down a staggering 25% as of 1:46 p.m. ET. 

Fiverr reported first-quarter non-GAAP earnings of $0.11 per share, which was far better than the loss of $0.01 per share it booked in the year-ago quarter, and handily beat analysts' consensus estimate for earnings of $0.02 per share. 

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Source Fool.com