Citigroup Has Lowered Expectations for Fiverr International (NYSE:FVRR) Stock Price

Key Points

• Citigroup cut Fiverr International’s price target from $11.50 to $10.00 while maintaining a neutral rating, implying approximately 13% upside from the stock’s $8.85 price.
• Analyst sentiment remains cautious: Fiverr has an average “Reduce” rating and an average price target of $11.06, with several firms recently lowering their targets.
• Fiverr beat quarterly earnings and revenue expectations, reporting $0.43 in EPS and $90.9 million in revenue, though revenue declined 15.8% year over year.

Fiverr International (NYSE:FVRR - Get Free Report) had its price objective decreased by research analysts at Citigroup from $11.50 to $10.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's target price points to a potential upside of 13.06% from the company's current price.

A number of other research analysts have also commented on the stock. Royal Bank Of Canada cut their price objective on shares of Fiverr International from $16.00 to $9.00 and set a "sector perform" rating for the company in a research report on Thursday, July 30th. Weiss Ratings lowered shares of Fiverr International from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday. The Goldman Sachs Group raised their price target on shares of Fiverr International from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Monday. JPMorgan Chase & Co. reduced their price objective on Fiverr International from $10.00 to $9.00 and set a "neutral" rating on the stock in a report on Friday. Finally, Wall Street Zen lowered Fiverr International from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Eleven analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $11.06.

Fiverr International Stock Performance

Shares of NYSE FVRR traded up $0.46 during trading on Monday, reaching $8.85. The stock had a trading volume of 936,011 shares, compared to its average volume of 982,518. Fiverr International has a one year low of $8.01 and a one year high of $22.84. The stock has a market cap of $317.99 million, a PE ratio of 12.80 and a beta of 1.51. The firm's 50 day moving average price is $8.80 and its two-hundred day moving average price is $10.73.

Fiverr International (NYSE:FVRR - Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.29 by $0.14. Fiverr International had a return on equity of 13.54% and a net margin of 6.42%. The firm had revenue of $90.90 million for the quarter, compared to analysts' expectations of $83.78 million. During the same quarter in the previous year, the company earned $0.15 earnings per share. The firm's quarterly revenue was down 15.8% compared to the same quarter last year. On average, research analysts expect that Fiverr International will post 0.88 earnings per share for the current year.

Institutional Investors Weigh In On Fiverr International

Institutional investors have recently modified their holdings of the business. Altshuler Shaham Ltd increased its holdings in Fiverr International by 400.0% in the 1st quarter. Altshuler Shaham Ltd now owns 5,000 shares of the company's stock valued at $50,000 after buying an additional 4,000 shares during the period. State of Wyoming acquired a new stake in shares of Fiverr International during the 3rd quarter worth approximately $68,000. Amundi acquired a new stake in shares of Fiverr International during the 1st quarter worth approximately $105,000. Maxi Investments CY Ltd bought a new position in Fiverr International in the second quarter valued at approximately $111,000. Finally, Independent Financial Group LLC bought a new position in Fiverr International in the first quarter valued at approximately $131,000. Institutional investors own 59.00% of the company's stock.

About Fiverr International

Fiverr International Ltd. operates an online marketplace that connects businesses and individual customers with freelancers offering digital services. The platform covers categories such as graphic design, digital marketing, writing and translation, video and animation, programming and technology, music and audio, business services, and consulting.

Fiverr's marketplace is designed to support transactions between buyers and sellers, including service discovery, communication, payments, and delivery.

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