Citigroup Boosts Fiverr International (NYSE:FVRR) Price Target to $40.00

Fiverr International (NYSE:FVRR - Get Free Report) had its target price raised by equities research analysts at Citigroup from $39.00 to $40.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's target price would indicate a potential upside of 19.23% from the company's previous close.

Several other research analysts also recently weighed in on the company. The Goldman Sachs Group lifted their target price on Fiverr International from $41.00 to $47.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. lifted their price objective on shares of Fiverr International from $27.00 to $32.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. JMP Securities cut shares of Fiverr International from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 20th. Needham & Company LLC restated a "buy" rating and issued a $36.00 target price on shares of Fiverr International in a research note on Thursday, May 8th. Finally, Citizens Jmp downgraded shares of Fiverr International from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Fiverr International has a consensus rating of "Hold" and an average price target of $36.00.

Fiverr International Stock Performance

Shares of NYSE:FVRR traded up $0.40 on Friday, reaching $33.55. The company's stock had a trading volume of 124,430 shares, compared to its average volume of 702,430. The stock has a market capitalization of $1.20 billion, a P/E ratio of 71.38 and a beta of 1.67. Fiverr International has a 52-week low of $20.78 and a 52-week high of $36.11. The stock's 50-day moving average is $26.65 and its two-hundred day moving average is $29.47. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.10 and a quick ratio of 2.99.

Fiverr International announced that its board has approved a share repurchase program on Tuesday, March 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FVRR. Millennium Management LLC boosted its stake in shares of Fiverr International by 20.9% during the 1st quarter. Millennium Management LLC now owns 369,714 shares of the company's stock worth $8,755,000 after acquiring an additional 63,828 shares in the last quarter. Jump Financial LLC increased its stake in Fiverr International by 29.8% in the 1st quarter. Jump Financial LLC now owns 104,839 shares of the company's stock valued at $2,483,000 after purchasing an additional 24,085 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Fiverr International by 53.3% during the first quarter. Ameriprise Financial Inc. now owns 1,870,478 shares of the company's stock worth $44,293,000 after purchasing an additional 650,672 shares during the last quarter. Quantbot Technologies LP boosted its position in Fiverr International by 5,825.9% during the first quarter. Quantbot Technologies LP now owns 11,911 shares of the company's stock worth $282,000 after purchasing an additional 11,710 shares in the last quarter. Finally, Arkadios Wealth Advisors boosted its position in Fiverr International by 7.3% during the first quarter. Arkadios Wealth Advisors now owns 147,895 shares of the company's stock worth $3,502,000 after purchasing an additional 10,022 shares in the last quarter. 59.00% of the stock is owned by hedge funds and other institutional investors.

About Fiverr International

Fiverr International Ltd. operates an online marketplace worldwide. Its platform enables sellers to sell their services and buyers to buy them. The company's platform includes various categories in ten verticals, including graphic and design, digital marketing, writing and translation, video and animation, music and audio, programming and tech, business, data, lifestyle, and photography.

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