What happened
Shares of freelance services market operator Fiverr (FVRR 2.74%) rose 730.2% last year, according to data from S&P Global Market Intelligence. Less than a year after entering the public stock market, Fiverr hit a nerve with both consumers and businesses during the coronavirus pandemic. After that, the skyrocketing operating results spoke for themselves.
So what
Stuck at home during the coronavirus lockdowns of 2020, millions of people found themselves with lots of spare time on their hands. Many turned to Fiverr, selling the fruits of their labor to other ordinary people, to businesses of every stripe, and to more entrepreneurial homebodies who are building their own small businesses during the crisis. The health crisis lit a fire under Fiverr's operations. For example, October's third-quarter report showed sales rising 88% year over year while the adjusted bottom line swung from a $0.12 loss to a $0.12 net profit per diluted share. Active buyers rose 37% to 3.1 million. Fiverr's earnings and sales left analyst projections far behind all year long.
Image source: Getty Images.
Now what
Fiverr is at the very top of my short (and shrinking) list of stocks to buy right now. Shares are not cheap, but the business is booming and I expect this small company to become a giant of the service industry in the long run. I would buy the stock today if I could only stop recommending it to you, dear reader. You, on the other hand, don't have to worry about the disclosure policy that forbids me from trading stocks within two market days of writing about them. Go ahead and pick up a couple of Fiverr shares right now.
