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

Fiverr International (NYSE:FVRR - Free Report) had its price objective upped by Citigroup from $39.00 to $40.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

FVRR has been the topic of a number of other research reports. Citizens Jmp cut Fiverr International from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 20th. The Goldman Sachs Group upped their target price on Fiverr International from $41.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Needham & Company LLC reissued a "buy" rating and issued a $36.00 price objective on shares of Fiverr International in a research note on Thursday, May 8th. JMP Securities cut shares of Fiverr International from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 20th. Finally, Scotiabank increased their price target on shares of Fiverr International from $31.00 to $34.00 and gave the company a "sector outperform" rating in a research report on Thursday, May 8th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $36.00.

Fiverr International Price Performance

FVRR traded down $0.07 on Friday, hitting $32.75. 352,428 shares of the company were exchanged, compared to its average volume of 701,658. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.99 and a current ratio of 1.10. The business's fifty day moving average is $27.13 and its 200 day moving average is $29.55. Fiverr International has a fifty-two week low of $20.78 and a fifty-two week high of $36.11. The firm has a market capitalization of $1.17 billion, a P/E ratio of 69.69 and a beta of 1.67.

Fiverr International announced that its board has initiated a stock buyback program on Tuesday, March 11th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 10.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Fiverr International

Several hedge funds have recently modified their holdings of FVRR. Jump Financial LLC boosted its position in Fiverr International by 594.7% during the fourth quarter. Jump Financial LLC now owns 80,754 shares of the company's stock worth $2,562,000 after acquiring an additional 69,129 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Fiverr International by 5.9% during the fourth quarter. New York State Common Retirement Fund now owns 24,824 shares of the company's stock worth $788,000 after purchasing an additional 1,382 shares during the last quarter. Pier Capital LLC acquired a new stake in shares of Fiverr International during the fourth quarter worth $8,674,000. Jones Financial Companies Lllp boosted its stake in Fiverr International by 134.9% in the 4th quarter. Jones Financial Companies Lllp now owns 1,031 shares of the company's stock worth $33,000 after buying an additional 592 shares during the last quarter. Finally, Engine Capital Management LP boosted its stake in Fiverr International by 2.3% in the 4th quarter. Engine Capital Management LP now owns 1,204,316 shares of the company's stock worth $38,213,000 after buying an additional 27,003 shares during the last quarter. 59.00% of the stock is owned by institutional investors and hedge funds.

Fiverr International Company Profile

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.