Shares of online work marketplace Fiverr International (NYSE:FVRR) are on the rise today on the back of a better-than-expected first-quarter performance by the company.
Revenue inched up 1.5% year-over-year to $88 million, outpacing estimates by nearly $300,000. Additionally, EPS at $0.39 comfortably landed past estimates by $0.15.
The company’s focus on efficiency is beginning to pay off as it navigates through a challenging macroeconomic backdrop. The number of active buyers on the platform now stands at 4.3 million with the spend per buyer now hovering at $262.
Looking ahead, for the second quarter, Fiverr now expects revenue to range between $88 million and $90 million alongside adjusted EBITDA between $12 million and $14 million.
For the full-year 2023 revenue is now anticipated between $355 million and $365 million. Adjusted EBITDA is seen landing between $48 million and $56 million for the period.
Overall, the Street has a $49.73 consensus price target on Fiverr alongside a Moderate Buy consensus rating.
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