Why Fiverr Shares Are Surging Today

Fiverr International Ltd FVRR is trading higher Wednesday after the company announced better-than-expected third-quarter financial results and issued guidance above estimates.

Fiverr reported quarterly earnings of 19 cents per share, which beat the estimate for a loss of 1 cent per share. The company reported quarterly revenue of $74.32 million, which beat the estimate of $71.1 million, representing an increase of 42% year-over-year.

Fiverr expects fourth-quarter revenue to be in a range of $74.5 million to $77.5 million versus the estimate of $72.78 million.

"Fiverr delivered a strong third quarter as we saw revenue growth of 42% y/y. We are also making exciting progress towards our long-term vision of the future of work with the acquisitions of CreativeLive and Stoke Talent, further strengthening our value proposition to increase market share in our massive TAM," said Micha Kaufman, founder and CEO of Fiverr.

Fiverr is involved in buying and selling digital services in the same fashion as physical goods on its e-commerce platform.

See Also: 30 Stocks Moving in Wednesday's Pre-Market Session

FVRR Price Action: Fiverr has traded as high as $336 and as low as $129.21 over a 52-week period.

The stock was up 15% at $185.20 at time of publication.