Fiverr International (NYSE:FVRR) Price Target Cut to $33.00 by Analysts at Citigroup

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 - Get Free Report) had its price objective dropped by equities researchers at Citigroup from $40.00 to $33.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's price target indicates a potential upside of 49.42% from the company's current price.

Several other equities analysts also recently weighed in on FVRR. JPMorgan Chase & Co. upgraded Fiverr International from a "neutral" rating to an "overweight" rating and decreased their target price for the company from $32.00 to $30.00 in a research report on Thursday. Royal Bank Of Canada cut their price target on Fiverr International from $35.00 to $28.00 and set a "sector perform" rating for the company in a report on Thursday. Scotiabank raised their target price on Fiverr International from $31.00 to $34.00 and gave the stock a "sector outperform" rating in a research note on Thursday, May 8th. UBS Group cut their target price on Fiverr International from $32.00 to $25.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, The Goldman Sachs Group raised their target price on Fiverr International from $41.00 to $47.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Fiverr International has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

Fiverr International Stock Performance

Shares of Fiverr International stock traded up $0.06 on Thursday, reaching $22.09. 1,793,078 shares of the stock were exchanged, compared to its average volume of 691,118. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.06. Fiverr International has a twelve month low of $20.83 and a twelve month high of $36.11. The firm has a market capitalization of $791.65 million, a price-to-earnings ratio of 46.99 and a beta of 1.54. The business has a 50 day moving average price of $29.27 and a two-hundred day moving average price of $28.44.

Fiverr International (NYSE:FVRR - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.03). The company had revenue of $108.65 million for the quarter, compared to analyst estimates of $107.75 million. Fiverr International had a return on equity of 10.28% and a net margin of 4.51%. The firm's revenue was up 14.7% on a year-over-year basis. During the same period last year, the business earned $0.58 earnings per share. Analysts anticipate that Fiverr International will post 1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fiverr International

Several hedge funds have recently bought and sold shares of FVRR. KLP Kapitalforvaltning AS acquired a new position in shares of Fiverr International in the fourth quarter worth $187,000. Huntington National Bank lifted its stake in shares of Fiverr International by 38.3% in the 4th quarter. Huntington National Bank now owns 1,465 shares of the company's stock valued at $46,000 after purchasing an additional 406 shares in the last quarter. Jump Financial LLC grew its holdings in shares of Fiverr International by 594.7% during the 4th quarter. Jump Financial LLC now owns 80,754 shares of the company's stock worth $2,562,000 after purchasing an additional 69,129 shares during the period. Ameriprise Financial Inc. increased its holdings in Fiverr International by 22.0% in the 4th quarter. Ameriprise Financial Inc. now owns 1,219,806 shares of the company's stock valued at $38,704,000 after purchasing an additional 219,957 shares in the last quarter. Finally, Engine Capital Management LP increased its holdings 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 valued at $38,213,000 after purchasing an additional 27,003 shares in the last quarter. Hedge funds and other 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.

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