Fiverr International (NYSE:FVRR) Stock Price Target Raised at The Goldman Sachs Group

Key Points

• Goldman Sachs raised Fiverr’s price target from $9 to $10 while maintaining a neutral rating, implying approximately 13.57% upside from the previous close.
• Analyst sentiment remains cautious: Fiverr has an average MarketBeat rating of “Reduce,” with 11 Hold ratings and one Sell rating; the average price target is $11.25.
• Fiverr beat quarterly earnings and revenue expectations, reporting $0.43 EPS versus $0.29 expected and $90.9 million in revenue, though revenue declined 15.8% year over year.

Fiverr International (NYSE:FVRR - Get Free Report) had its price target raised by equities research analysts at The Goldman Sachs Group from $9.00 to $10.00 in a report released on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the stock. The Goldman Sachs Group's price target indicates a potential upside of 13.57% from the stock's previous close.

FVRR has been the subject of a number of other reports. Oppenheimer lowered Fiverr International from an "outperform" rating to a "market perform" rating in a report on Thursday, July 30th. Royal Bank Of Canada dropped their target price on Fiverr International from $16.00 to $9.00 and set a "sector perform" rating on the stock in a report on Thursday, July 30th. Weiss Ratings cut Fiverr International from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday. Scotiabank decreased their price target on Fiverr International from $10.00 to $9.00 and set a "sector perform" rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. lowered their price target on Fiverr International from $10.00 to $9.00 and set a "neutral" rating for the company in a research report on Friday. Eleven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $11.25.

Fiverr International Price Performance

Shares of Fiverr International stock traded up $0.41 during midday trading on Monday, reaching $8.80. The company had a trading volume of 722,074 shares, compared to its average volume of 981,399. The stock has a fifty day moving average price of $8.80 and a 200 day moving average price of $10.73. The firm has a market cap of $316.55 million, a PE ratio of 12.74 and a beta of 1.51. Fiverr International has a fifty-two week low of $8.01 and a fifty-two week high of $22.84.

Fiverr International (NYSE:FVRR - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.14. The firm had revenue of $90.90 million during the quarter, compared to analyst estimates of $83.78 million. Fiverr International had a return on equity of 13.54% and a net margin of 6.42%. The business's quarterly revenue was down 15.8% on a year-over-year basis. During the same period last year, the company posted $0.15 EPS. As a group, sell-side analysts forecast that Fiverr International will post 0.88 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FVRR. Altshuler Shaham Ltd lifted its position in Fiverr International by 400.0% during the first quarter. Altshuler Shaham Ltd now owns 5,000 shares of the company's stock valued at $50,000 after purchasing an additional 4,000 shares during the last quarter. State of Wyoming bought a new position in shares of Fiverr International in the 3rd quarter worth $68,000. Amundi purchased a new stake in shares of Fiverr International during the 1st quarter valued at $105,000. Maxi Investments CY Ltd purchased a new stake in shares of Fiverr International during the 2nd quarter valued at $111,000. Finally, Independent Financial Group LLC bought a new stake in shares of Fiverr International during the 1st quarter worth $131,000. 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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