Wishpond’s Fiverr partnership is a positive, says PI

A new partnership announcement from Wishpond (Wishpond Stock Quote, Chart, News, Analysts, Financials TSXV:WISH) has PI Financial analyst Jason Zandberg maintaining his bullish stance on the stock.

On September 5, Wishpond announced a partnership with Fiverr to create a new certified marketplace.

“We are thrilled to be collaborating with Fiverr to create a marketplace where our customers can access expert services and solutions from vetted, certified professionals,” CEO Ali Tajskandar said. “We believe that partnering with Fiverr Certified unlocks a new client segment for us which we haven’t been able to reach before and we’re excited to be able to offer new solutions to ensure our customers get the most out of our platform.”

Zandberg summed up the benefit to WISH.

“This partnership is anticipated to bring several additional benefits for WISH including eliminating bottlenecks and allowing WISH to continuously capitalize on new revenue opportunities, providing access to valuable data insights into customers’ needs enabling WISH to refine its offerings and better cater to its customers, and lastly, a marketplace built, managed, and operated by Fiverr highlighting WISH’s platform to vast network of potential customers with a proven need for digital solutions,” he said.

In a research update to clients September 5, Zandberg maintained his “Buy” rating and one-year price target of $1.75 on WISH, implying a return of $186.9 per cent at the time of publication.