Fiverr International (NYSE:FVRR) Given New $9.00 Price Target at The Goldman Sachs Group

Key Points

• Goldman Sachs cut Fiverr’s price target from $13 to $9 while maintaining a “neutral” rating, implying approximately 6.3% upside from the stock’s $8.46 price.
• Analyst sentiment has weakened, with several firms downgrading Fiverr; MarketBeat reports a consensus “Reduce” rating and an average price target of $11.44.
• Fiverr reported quarterly revenue of $97.78 million and earnings of $0.50 per share. Institutional investors own approximately 59% of the company, with several major funds increasing their positions.

Fiverr International (NYSE:FVRR - Get Free Report) had its price objective cut by The Goldman Sachs Group from $13.00 to $9.00 in a report released on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the stock. The Goldman Sachs Group's target price would suggest a potential upside of 6.32% from the stock's current price.

FVRR has been the topic of several other reports. Oppenheimer cut Fiverr International from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 30th. Wall Street Zen lowered shares of Fiverr International from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Scotiabank lowered shares of Fiverr International from a "sector outperform" rating to a "sector perform" rating and set a $10.00 price target for the company. in a research report on Thursday, July 30th. Zacks Research upgraded shares of Fiverr International from a "strong sell" rating to a "hold" rating in a research note on Monday, June 29th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Fiverr International from $11.00 to $10.00 and set a "neutral" rating on the stock in a report on Thursday, October 15th. Eleven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $11.44.

Fiverr International Price Performance

NYSE FVRR opened at $8.46 on Monday. The business's fifty day moving average price is $8.87 and its 200-day moving average price is $9.93. The stock has a market capitalization of $304.32 million, a price-to-earnings ratio of 10.45 and a beta of 1.51. Fiverr International has a 1-year low of $8.31 and a 1-year high of $23.85.

Fiverr International (NYSE:FVRR - Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The company reported $0.50 earnings per share (EPS) for the quarter. Fiverr International had a return on equity of 16.14% and a net margin of 7.18%. The firm had revenue of $97.78 million for the quarter. Equities research analysts anticipate that Fiverr International will post 0.88 EPS for the current year.

Institutional Trading of Fiverr International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its stake in Fiverr International by 26.0% in the 1st quarter. Renaissance Technologies LLC now owns 731,659 shares of the company's stock worth $7,331,000 after purchasing an additional 151,200 shares during the period. Wellington Management Group LLP grew its holdings in Fiverr International by 16.5% during the 2nd quarter. Wellington Management Group LLP now owns 1,269,405 shares of the company's stock valued at $13,100,000 after buying an additional 179,418 shares in the last quarter. Sparta 24 Ltd. bought a new stake in shares of Fiverr International during the first quarter valued at approximately $9,410,000. Engine Capital Management LP raised its position in shares of Fiverr International by 78.4% during the first quarter. Engine Capital Management LP now owns 1,338,644 shares of the company's stock valued at $13,413,000 after buying an additional 588,220 shares during the last quarter. Finally, Tidal Investments LLC raised its position in shares of Fiverr International by 235.2% during the second quarter. Tidal Investments LLC now owns 100,794 shares of the company's stock valued at $1,040,000 after buying an additional 70,727 shares during the last quarter. Institutional investors own 59.00% of the company's stock.

Fiverr International Company Profile

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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