Fiverr International (NYSE:FVRR) Stock Has Consensus Target Price of $12.56 According to Brokerages

Key Points

• Analysts hold a cautious view of Fiverr: Twelve firms give the stock a consensus “Reduce” rating, with an average 12-month price target of $12.56. Recent brokerages lowered targets, including RBC to $9.00, Citigroup to $11.50, and Goldman Sachs to $13.00.
• Fiverr shares opened at $8.53, near their 52-week low of $8.31 and well below the 52-week high of $24.39. The company has a market capitalization of approximately $306.7 million.
• Institutional investors and hedge funds own about 59% of Fiverr’s stock, with several firms increasing their positions. In its latest quarter, Fiverr reported $0.50 in earnings per share and $97.78 million in revenue.

Fiverr International (NYSE:FVRR - Get Free Report) has received an average recommendation of "Reduce" from the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and eleven have given a hold recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $12.56.

FVRR has been the subject of a number of recent research reports. Citigroup reduced their target price on shares of Fiverr International from $15.00 to $11.50 and set a "neutral" rating 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 report on Monday, June 29th. The Goldman Sachs Group restated a "neutral" rating and issued a $13.00 target price (down from $26.00) on shares of Fiverr International in a report on Thursday, July 30th. Royal Bank Of Canada dropped their price objective on shares of Fiverr International from $16.00 to $9.00 and set a "sector perform" rating for the company in a report on Thursday, July 30th. Finally, Wall Street Zen cut shares of Fiverr International from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st.

Hedge Funds Weigh In On Fiverr International

Large investors have recently modified their holdings of the business. Sparta 24 Ltd. purchased a new position in Fiverr International during the first quarter worth about $9,410,000. Engine Capital Management LP raised its stake in shares of Fiverr International by 78.4% in the 1st quarter. Engine Capital Management LP now owns 1,338,644 shares of the company's stock valued at $13,413,000 after acquiring an additional 588,220 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Fiverr International by 16.5% in the 2nd quarter. Wellington Management Group LLP now owns 1,269,405 shares of the company's stock worth $13,100,000 after acquiring an additional 179,418 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of 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 acquiring an additional 151,200 shares during the last quarter. Finally, Whetstone Capital Advisors LLC purchased a new position in shares of Fiverr International during the 4th quarter worth approximately $2,497,000. Institutional investors and hedge funds own 59.00% of the company's stock.

Fiverr International Price Performance

Shares of NYSE:FVRR opened at $8.53 on Monday. Fiverr International has a 1 year low of $8.31 and a 1 year high of $24.39. The firm has a market capitalization of $306.69 million, a PE ratio of 10.53 and a beta of 1.51. The business's 50 day moving average price is $9.13 and its 200-day moving average price is $10.10.

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

Fiverr International Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.