Wall Street Zen upgraded shares of Fiverr International (NYSE:FVRR - Free Report) from a buy rating to a strong-buy rating in a research report released on Saturday morning.
Several other equities analysts also recently commented on the company. The Goldman Sachs Group upped their price objective on Fiverr International from $41.00 to $47.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Scotiabank upped their price target on Fiverr International from $31.00 to $34.00 and gave the company a "sector outperform" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. increased their price target on Fiverr International from $27.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Needham & Company LLC restated a "buy" rating and issued a $36.00 price objective on shares of Fiverr International in a research note on Thursday, May 8th. Finally, Citigroup upped their price objective on shares of Fiverr International from $39.00 to $40.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $36.00.
Check Out Our Latest Analysis on FVRR
Fiverr International Stock Performance
Shares of NYSE:FVRR traded up $0.30 during midday trading on Friday, reaching $29.35. The company had a trading volume of 479,916 shares, compared to its average volume of 680,315. The stock has a market cap of $1.05 billion, a P/E ratio of 62.44 and a beta of 1.58. The company's 50 day moving average price is $29.71 and its 200 day moving average price is $29.46. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.06. Fiverr International has a 52-week low of $20.78 and a 52-week high of $36.11.
Fiverr International announced that its board has authorized a share 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 reacquire up to 10.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.
Institutional Investors Weigh In On Fiverr International
Institutional investors and hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. grew its stake in Fiverr International by 53.3% in the 1st quarter. Ameriprise Financial Inc. now owns 1,870,478 shares of the company's stock worth $44,293,000 after buying an additional 650,672 shares in the last quarter. Engine Capital Management LP lifted its holdings in shares of Fiverr International by 2.3% during the 4th quarter. Engine Capital Management LP now owns 1,204,316 shares of the company's stock worth $38,213,000 after acquiring an additional 27,003 shares during the last quarter. Millennium Management LLC grew its position in Fiverr International by 20.9% in the first 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. Pier Capital LLC bought a new position in Fiverr International in the fourth quarter valued at $8,674,000. Finally, Arkadios Wealth Advisors raised 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 valued at $3,502,000 after purchasing an additional 10,022 shares in the last quarter. Hedge funds and other institutional investors own 59.00% of the company's stock.
Fiverr International Company Profile
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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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