2 Top Stocks That Could Boom in the 2024 Bull Market and Beyond

The stock market has been a remarkable place for generating and sustaining significant returns over time. The performance of your individual portfolio will depend on how much you invest, how often and where you put your money to work.

Diversifying your investment capital across a wide range of companies and investing consistently when the market is up and down can increase your portfolio’s performance over the years. If you currently have cash to invest in stocks, here are two big names to consider in the new bull market.

1. Cinqur

Cinqrr (NYSE:FVRR) is trading down about 5% from last year, despite its business continuing to grow in a challenging operating environment and rapidly improving its financial results. THE artificial intelligence The boom is changing many sectors, and the world of freelancing is no exception.

Although some fear that tools and technologies like Generative AI will replace the need for talented freelancers, the future will likely be much more nuanced. These tools are far from perfect, and while some tasks can be completed entirely by AI, many require help from human expertise to deliver an exceptional end product.

Fiverr capitalizes on this vision. Over the past year-plus, the company has launched a series of AI-powered services, from a matchmaking service that helps businesses find the right freelancer to new gig categories focused on AI. The company has also focused on offering more complex services, i.e. those that may involve the use of AI but require a skilled human freelancer to do the work.

The growth of complex services, which include tasks such as financial advisory, AI development, and mobile application development, drives steady growth for Fiverr in a competitive environment. In the company’s first-quarter shareholder letter, management noted a boom in the number of AI services offered on the platform, which now include offerings such as AI avatar design and applications Custom GPT (Generative Pre-training Transformer). At last count, Fiverr had 10,000 AI experts on its marketplace.

Financially, Fiverr generated approximately $94 million in revenue in the first quarter of 2024, an increase of 6% from the same period in 2023. It also reported a net profit of 0. $8 million, compared to a net loss of $4.3 million in the previous year. quarter. This follows 2023, in which Fiverr generated annual net profit of just under $4 million, its first profitable year as a company.

Active buyers declined 6% year-over-year in Q1 2024, but spending per buyer actually increased 8% year-over-year. On top of that, Fiverr’s cohort of high-value buyers (those spending more than $500 per year) grew 4% in Q1 2024 on an annual basis.

Fiverr generated approximately $21 million in operating cash flow, a notable 57% increase over last year. The company also continues to maintain its history of high gross margins, recording 83.5% during the most recent quarter, a…

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