Fiverr International (NYSE:FVRR) Price Target Cut to $10.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered Fiverr International’s price target from $11 to $10 while maintaining a neutral rating, implying approximately 13.2% upside from the stock’s $8.84 price.
• Analyst sentiment remains cautious: Fiverr has an average “Reduce” rating and an average price target of $11.94, with 11 analysts at Hold and one at Sell.
• The stock remains near its 52-week low, trading between $8.31 and $23.85, while institutional investors own approximately 59% of the company.

Fiverr International (NYSE:FVRR - Get Free Report) had its price objective cut by JPMorgan Chase & Co. from $11.00 to $10.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 13.19% from the stock's current price.

Other analysts have also recently issued reports about the company. Scotiabank cut Fiverr International from a "sector outperform" rating to a "sector perform" rating and set a $10.00 price target on the stock. in a research report on Thursday, July 30th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $13.00 price objective (down from $26.00) on shares of Fiverr International in a research report on Thursday, July 30th. Weiss Ratings lowered Fiverr International from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, September 29th. Wall Street Zen cut Fiverr International from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Zacks Research raised Fiverr International from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. Eleven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $11.94.

Fiverr International Price Performance

FVRR traded up $0.28 on Thursday, hitting $8.84. The company had a trading volume of 344,855 shares, compared to its average volume of 969,993. Fiverr International has a 52-week low of $8.31 and a 52-week high of $23.85. The stock has a fifty day simple moving average of $8.93 and a 200-day simple moving average of $10.00. The firm has a market capitalization of $317.63 million, a P/E ratio of 10.91 and a beta of 1.51.

Fiverr International (NYSE:FVRR - Get Free Report) last announced its earnings results on Tuesday, June 30th. The company reported $0.50 EPS for the quarter. Fiverr International had a net margin of 7.18% and a return on equity of 16.14%. The firm had revenue of $97.78 million for the quarter. Equities research analysts expect that Fiverr International will post 0.93 earnings per share for the current fiscal year.

Institutional Trading of Fiverr International

Hedge funds have recently bought and sold shares of the company. Altshuler Shaham Ltd raised 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 worth $50,000 after purchasing an additional 4,000 shares during the period. Amundi bought a new stake in shares of Fiverr International during the first quarter valued at approximately $105,000. Maxi Investments CY Ltd purchased a new stake in Fiverr International in the 2nd quarter worth $111,000. Independent Financial Group LLC purchased a new stake in shares of Fiverr International in the first quarter worth about $131,000. Finally, Rice Hall James & Associates LLC grew its holdings in shares of Fiverr International by 5.3% in the first quarter. Rice Hall James & Associates LLC now owns 304,628 shares of the company's stock valued at $3,052,000 after purchasing an additional 15,331 shares in the last quarter. Hedge funds and other 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 buyers with freelance professionals offering digital services. The platform covers categories such as graphic design, digital marketing, writing and translation, video and animation, music and audio, programming and technology, business services, and consulting.

Fiverr supports transactions between buyers and freelancers through tools for discovering services, communicating, managing projects, and completing payments.

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