Fiverr International (NYSE:FVRR) Coverage Initiated at Scotiabank

Equities research analysts at Scotiabank began coverage on shares of Fiverr International (NYSE:FVRR) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm set a “sector outperform” rating and a $31.00 price target on the stock. Scotiabank’s price target would indicate a potential upside of 21.97% from the company’s previous close.

A number of other equities analysts also recently issued reports on FVRR. JMP Securities downgraded Fiverr International from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 20th. UBS Group increased their price target on Fiverr International from $31.00 to $32.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Citizens Jmp downgraded Fiverr International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $35.00 price target on shares of Fiverr International in a research report on Thursday, February 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $36.00 price target on shares of Fiverr International in a research report on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.22.

Fiverr International Stock Down 4.5 %

FVRR opened at $25.42 on Wednesday. The company has a fifty day moving average of $30.11 and a two-hundred day moving average of $28.80. The stock has a market capitalization of $911.01 million, a price-to-earnings ratio of 54.08 and a beta of 1.93. Fiverr International has a fifty-two week low of $18.83 and a fifty-two week high of $36.11. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.99 and a current ratio of 1.10.

Fiverr International announced that its board has approved a stock repurchase plan on Tuesday, March 11th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 10.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Fiverr International

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. increased its holdings in shares of Fiverr International by 22.0% in 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 during the last quarter. Engine Capital Management LP grew its position in Fiverr International by 2.3% in the fourth 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 period. Millennium Management LLC grew its position in Fiverr International by 169.9% in the fourth quarter. Millennium Management LLC now owns 305,886 shares of the company’s stock worth $9,706,000 after acquiring an additional 192,534 shares during the period. Pier Capital LLC purchased a new position in Fiverr International in the fourth quarter worth approximately $8,674,000. Finally, Arkadios Wealth Advisors grew its position in Fiverr International by 22.0% in the fourth quarter. Arkadios Wealth Advisors now owns 137,873 shares of the company’s stock worth $4,375,000 after acquiring an additional 24,839 shares during the period. Institutional investors and hedge funds 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.