Shares of Fiverr (FVRR) skyrocket on IPO day

: fvrr | Fiverr International Ltd. News, Ratings, and Charts

fvrr – Shares of Fiverr jumped in the IPO debut Thursday.

Shares of Israeli freelancer online marketplace Fiverr International (FVRR)  jumped more than 58% to $33.27 on Thursday, its first day of trading on the New York Stock Exchange.

The company’s initial public offering was priced at $21 per share on Wednesday night, higher than its suggested range between $18 and $20.

The company plans to offer 5.26 million shares and expects to raise more than $110 million in Thursday’s debut. The stock’s first trade Thursday was at $26.

Last year, the company reported $75.5 million in revenue, up from the $52.1 million it took in the year prior. About 57% of that revenue was generated from existing “buyers” with 43% coming from new “buyers.”

However, Fiverr also posted a loss of $36.1 million in 2018 and a loss of $19.3 million in 2017.

The company reported having 255,000 active sellers and 2.1 million active buyers.

In the first quarter of 2019, the company reported losing $8.3 million, about half of the $16.3 million it reported losing a year earlier..

FVRR shares . Year-to-date, Fiverr International Ltd. (FVRR - Get Rating) has declined 0.00%, versus a 16.38% rise in the benchmark S&P 500 index during the same period.

This article is brought to you courtesy of TheStreet.

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