Fiverr International (NYSE:FVRR) Stock Rating Upgraded by JPMorgan Chase & Co.

Key Points

• Fiverr International has been upgraded by JPMorgan Chase & Co. from a "neutral" to an "overweight" rating, with a price target of $30.00, indicating a potential upside of 35.14% from its current price.
• The company reported $0.69 EPS for the last quarter, missing estimates by $0.03, while revenue increased by 14.7% year-over-year.
• Institutional investors now own 59.00% of Fiverr's shares, with significant increases in holdings by firms like Ameriprise Financial and Millennium Management.

Fiverr International (NYSE:FVRR - Get Free Report) was upgraded by JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research note issued on Thursday, Marketbeat reports. The brokerage currently has a $30.00 price target on the stock, down from their previous price target of $32.00. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 35.81% from the company's previous close.

Several other research analysts also recently weighed in on the company. Scotiabank lifted their target price on Fiverr International from $31.00 to $34.00 and gave the company a "sector outperform" rating in a research note on Thursday, May 8th. Citigroup lifted their target price on Fiverr International from $39.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Needham & Company LLC lowered their target price on Fiverr International from $36.00 to $32.00 and set a "buy" rating on the stock in a research note on Thursday. The Goldman Sachs Group lifted their target price on Fiverr International from $41.00 to $47.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen cut Fiverr International from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 29th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $33.13.

Fiverr International Stock Performance

Shares of FVRR traded up $0.01 during mid-day trading on Thursday, reaching $22.09. 1,110,498 shares of the company's stock were exchanged, compared to its average volume of 958,582. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $791.71 million, a PE ratio of 19.37 and a beta of 1.45. The business's fifty day simple moving average is $28.82 and its 200-day simple moving average is $28.28. Fiverr International has a 52-week low of $20.83 and a 52-week high of $36.11.

Fiverr International (NYSE:FVRR - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share 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 quarter last year, the business posted $0.58 earnings per share. The company's revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities research analysts expect that Fiverr International will post 1.04 earnings per share for the current year.

Hedge Funds Weigh In On Fiverr International

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jump Financial LLC raised 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 purchasing an additional 69,129 shares during the last quarter. Legato Capital Management LLC acquired a new position in Fiverr International during the first quarter worth $516,000. Millennium Management LLC raised its holdings in Fiverr International by 169.9% during the fourth quarter. Millennium Management LLC now owns 305,886 shares of the company's stock worth $9,706,000 after purchasing an additional 192,534 shares during the last quarter. Engine Capital Management LP raised its holdings in Fiverr International by 2.3% during the fourth quarter. Engine Capital Management LP now owns 1,204,316 shares of the company's stock worth $38,213,000 after purchasing an additional 27,003 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Fiverr International by 60.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 42,336 shares of the company's stock worth $1,343,000 after acquiring an additional 15,951 shares during the last quarter. 59.00% of the stock is owned by institutional investors and hedge funds.

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.