Needham & Company LLC Lowers Fiverr International (NYSE:FVRR) Price Target to $32.00

Key Points

• Needham & Company LLC has reduced its price target for Fiverr International (NYSE:FVRR) from $36.00 to $32.00, while maintaining a "buy" rating, indicating a potential upside of 43.77%.
• Multiple analysts have varying views on Fiverr, with Goldman Sachs increasing its target to $47.00 and Citigroup raising theirs to $40.00, while Wall Street Zen and others have downgraded their ratings.
• Fiverr International's recent quarterly earnings missed consensus estimates, reporting $0.69 earnings per share against an expected $0.72, despite a revenue increase of 14.7% year-over-year.

Fiverr International (NYSE:FVRR - Free Report) had its price objective reduced by Needham & Company LLC from $36.00 to $32.00 in a research note released on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other analysts have also recently issued reports on the company. Wall Street Zen cut Fiverr International from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 29th. Citigroup increased their price objective on Fiverr International from $39.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. lifted their target price on Fiverr International from $27.00 to $32.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Scotiabank upped their price objective on Fiverr International from $31.00 to $34.00 and gave the stock a "sector outperform" rating in a report on Thursday, May 8th. Finally, The Goldman Sachs Group upped their target price on Fiverr International from $41.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Fiverr International presently has an average rating of "Moderate Buy" and an average target price of $33.13.

Fiverr International Trading Down 0.5%

Shares of FVRR stock traded down $0.10 on Thursday, hitting $21.98. The stock had a trading volume of 1,241,743 shares, compared to its average volume of 697,789. The company's 50 day moving average price is $28.82 and its 200-day moving average price is $28.24. Fiverr International has a 1 year low of $20.83 and a 1 year high of $36.11. The firm has a market capitalization of $787.85 million, a P/E ratio of 45.79 and a beta of 1.45. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.32 and a quick ratio of 1.32.

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

Institutional Investors Weigh In On Fiverr International

Several hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. increased its holdings in shares of Fiverr International by 53.3% in the 1st quarter. Ameriprise Financial Inc. now owns 1,870,478 shares of the company's stock valued at $44,293,000 after acquiring an additional 650,672 shares during the last quarter. Engine Capital Management LP lifted its position 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 worth $38,213,000 after buying an additional 27,003 shares during the last quarter. Analyst IMS Investment Management Services Ltd. boosted its holdings in shares of Fiverr International by 19.0% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 468,729 shares of the company's stock valued at $13,748,000 after buying an additional 75,000 shares during the period. Millennium Management LLC grew its position in shares of Fiverr International by 20.9% during the 1st quarter. Millennium Management LLC now owns 369,714 shares of the company's stock valued at $8,755,000 after buying an additional 63,828 shares during the last quarter. Finally, Arkadios Wealth Advisors raised its stake in Fiverr International by 7.3% during the first quarter. Arkadios Wealth Advisors now owns 147,895 shares of the company's stock worth $3,502,000 after acquiring an additional 10,022 shares during the period. 59.00% of the stock is currently owned by hedge funds and other institutional investors.

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.