Fiverr International (NYSE:FVRR) Stock Price Expected to Rise, Scotiabank Analyst Says

Fiverr International (NYSE:FVRR) had its price objective hoisted by stock analysts at Scotiabank from $31.00 to $34.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s target price points to a potential upside of 11.59% from the stock’s current price.

A number of other equities analysts have also recently issued reports on FVRR. Needham & Company LLC restated a “buy” rating and issued a $36.00 price objective on shares of Fiverr International in a research report on Thursday. JPMorgan Chase & Co. reduced their price target on Fiverr International from $33.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. JMP Securities cut Fiverr International from an “outperform” rating to a “market perform” rating in a report on Thursday, February 20th. Citizens Jmp cut Fiverr International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $35.00 price target on shares of Fiverr International in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $35.89.

Fiverr International Stock Up 3.2 %

Shares of NYSE FVRR opened at $30.47 on Thursday. The firm’s fifty day moving average is $25.50 and its 200 day moving average is $29.09. Fiverr International has a 52 week low of $20.78 and a 52 week high of $36.11. The company has a quick ratio of 2.99, a current ratio of 1.10 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 64.83 and a beta of 1.67.

Fiverr International declared that its board has initiated a share repurchase program on Tuesday, March 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 10.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Fiverr International

A number of hedge funds have recently modified their holdings of FVRR. Pier Capital LLC bought a new position in shares of Fiverr International in the 4th quarter worth about $8,674,000. Ameriprise Financial Inc. increased its stake in shares of Fiverr International by 22.0% during the fourth 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. Millennium Management LLC lifted its holdings in shares of Fiverr International by 169.9% during the fourth 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 during the last quarter. Jump Financial LLC lifted its holdings in shares of Fiverr International by 594.7% during the fourth quarter. Jump Financial LLC now owns 80,754 shares of the company’s stock valued at $2,562,000 after purchasing an additional 69,129 shares during the last quarter. Finally, Engine Capital Management LP boosted 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 purchasing an additional 27,003 shares in the last quarter. 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.