Fiverr International (NYSE:FVRR) Receives Buy Rating from Needham & Company LLC

Fiverr International (NYSE:FVRR - Get Free Report)'s stock had its "buy" rating reissued by analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports. They currently have a $36.00 price objective on the stock. Needham & Company LLC's price target suggests a potential upside of 11.18% from the company's current price.

Several other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Fiverr International from $33.00 to $27.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $35.00 price objective on shares of Fiverr International in a research report on Thursday, February 20th. Scotiabank assumed coverage on Fiverr International in a research report on Wednesday, March 12th. They set a "sector outperform" rating and a $31.00 price objective for the company. Citizens Jmp cut Fiverr International from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 20th. Finally, JMP Securities cut Fiverr International from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $35.89.

Fiverr International Trading Up 1.9%

Shares of FVRR traded up $0.60 during trading hours on Thursday, hitting $32.38. 361,508 shares of the stock traded hands, compared to its average volume of 720,047. The business has a fifty day moving average of $25.62 and a 200-day moving average of $29.24. The firm has a market capitalization of $1.16 billion, a PE ratio of 68.90 and a beta of 1.67. The company has a current ratio of 1.10, a quick ratio of 2.99 and a debt-to-equity ratio of 0.06. Fiverr International has a 1-year low of $20.78 and a 1-year high of $36.11.

Fiverr International declared that its board has approved a share buyback program on Tuesday, March 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Fiverr International

A number of hedge funds have recently added to or reduced their stakes in FVRR. Ameriprise Financial Inc. boosted its holdings in shares of 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. Engine Capital Management LP boosted its holdings in shares of 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. 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 purchasing an additional 192,534 shares in the last quarter. Pier Capital LLC acquired a new stake in shares of Fiverr International during the 4th quarter valued at $8,674,000. Finally, Arkadios Wealth Advisors boosted its holdings in shares of Fiverr International by 7.3% during the 1st quarter. Arkadios Wealth Advisors now owns 147,895 shares of the company's stock valued at $3,502,000 after acquiring an additional 10,022 shares in the last quarter. Institutional investors own 59.00% of the company's stock.

About Fiverr International

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.