Fiverr ($FVRR)

Investment notes regarding $FVRR

• Fiverr is a two-sided marketplace that connects businesses with qualified freelance service providers. They are moving up market to raise the average ticket sold.

• 12% of shares held by insiders.

• Short interest is 15% of float.

• 38.38 M shares outstanding (low share count).

• $417 cash and $462M of debt on balance sheet.

• The company is profitable and cash flow positive and they have a low forward P/E of 11.

• The stock is trading for about the same price it traded at in March 2020. At that time, the company was bleeding money and not yet profitable.

• Returning to all-time highs (Feb 2021) would mean the stock would 15x from current prices.

• If and when the Fed cuts rates, growth stocks will perform very well.

• The company is headquartered in Tel Aviv Israel and therefore there is some real geopolitical risk associated with this company.