Citigroup Issues Pessimistic Forecast for Fiverr International (NYSE:FVRR) Stock Price

Key Points

• Citigroup has reduced its price target for Fiverr International from $40.00 to $33.00, while maintaining a "buy" rating, suggesting a potential upside of 49.42% from the current price.
• Other analysts have given mixed reviews, with some downgrading their price targets significantly, including Royal Bank of Canada which cut its target from $35.00 to $28.00, and Goldman Sachs which raised its target from $41.00 to $47.00.
• Fiverr reported a year-over-year revenue increase of 14.7% in its latest quarter, but its earnings per share fell short of estimates, indicating ongoing challenges despite growing revenue.

Fiverr International (NYSE:FVRR - Free Report) had its price target cut by Citigroup from $40.00 to $33.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

FVRR has been the subject of several other research reports. The Goldman Sachs Group boosted their price target on shares of Fiverr International from $41.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Wall Street Zen lowered shares of Fiverr International from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 29th. Scotiabank boosted their price target on shares of Fiverr International from $31.00 to $34.00 and gave the company a "sector outperform" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. upgraded shares of Fiverr International from a "neutral" rating to an "overweight" rating and reduced their price target for the company from $32.00 to $30.00 in a report on Thursday. Finally, UBS Group reduced their price target on shares of Fiverr International from $32.00 to $25.00 and set a "neutral" rating for the company in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Fiverr International currently has an average rating of "Moderate Buy" and an average price target of $33.13.

Fiverr International Trading Up 0.1%

Fiverr International stock traded up $0.02 during trading hours on Thursday, hitting $22.10. The company had a trading volume of 213,481 shares, compared to its average volume of 690,393. The firm has a market cap of $792.15 million, a P/E ratio of 46.04 and a beta of 1.45. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.32 and a current ratio of 1.32. Fiverr International has a 1 year low of $20.83 and a 1 year high of $36.11. The company has a 50-day moving average price of $28.82 and a two-hundred day moving average price of $28.24.

Fiverr International (NYSE:FVRR - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.03). Fiverr International had a net margin of 4.34% and a return on equity of 11.87%. The company had revenue of $108.65 million during the quarter, compared to analysts' expectations of $107.75 million. During the same period last year, the firm earned $0.58 earnings per share. Fiverr International's quarterly revenue was up 14.7% on a year-over-year basis. On average, sell-side analysts anticipate that Fiverr International will post 1.04 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Ameriprise Financial Inc. grew its position in Fiverr International by 53.3% during the 1st 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. Millennium Management LLC boosted its holdings in shares of Fiverr International by 169.9% in the 4th quarter. Millennium Management LLC now owns 305,886 shares of the company's stock valued at $9,706,000 after acquiring an additional 192,534 shares during the last quarter. Analyst IMS Investment Management Services Ltd. boosted its holdings in Fiverr International by 19.0% during the second quarter. Analyst IMS Investment Management Services Ltd. now owns 468,729 shares of the company's stock worth $13,748,000 after buying an additional 75,000 shares in the last quarter. Jump Financial LLC boosted its holdings 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 buying an additional 69,129 shares in the last quarter. Finally, BloombergSen Inc. boosted its holdings in Fiverr International by 142.4% during the second quarter. BloombergSen Inc. now owns 96,252 shares of the company's stock worth $2,823,000 after buying an additional 56,538 shares in the last quarter. Institutional investors own 59.00% of the company's stock.

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.