Fiverr International (NYSE:FVRR) Trading 5% Higher – Still a Buy?

Shares of Fiverr International Ltd. (NYSE:FVRR) rose 5% on Monday . The stock traded as high as $24.00 and last traded at $23.30. Approximately 560,510 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 766,160 shares. The stock had previously closed at $22.20.

Wall Street Analyst Weigh In

FVRR has been the topic of several analyst reports. JMP Securities cut shares of Fiverr International from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 20th. Royal Bank of Canada restated a “sector perform” rating and set a $35.00 target price on shares of Fiverr International in a research report on Thursday, February 20th. Citizens Jmp cut shares of Fiverr International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 20th. Scotiabank assumed coverage on Fiverr International in a research note on Wednesday, March 12th. They set a “sector outperform” rating and a $31.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Fiverr International in a research report on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Fiverr International has an average rating of “Moderate Buy” and an average target price of $34.22.

Fiverr International Stock Up 5.6 %

The firm has a market capitalization of $840.61 million, a PE ratio of 49.90 and a beta of 1.98. The company has a current ratio of 1.10, a quick ratio of 2.99 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average of $27.52 and a two-hundred day moving average of $28.86.

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

Institutional Trading of Fiverr International

A number of institutional investors have recently modified their holdings of FVRR. Jones Financial Companies Lllp raised its holdings in Fiverr International by 134.9% in the fourth quarter. Jones Financial Companies Lllp now owns 1,031 shares of the company’s stock valued at $33,000 after buying an additional 592 shares during the period. Huntington National Bank increased its position in shares of Fiverr International by 38.3% in the fourth quarter. Huntington National Bank now owns 1,465 shares of the company’s stock worth $46,000 after acquiring an additional 406 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Fiverr International in the 4th quarter valued at $57,000. KLP Kapitalforvaltning AS acquired a new position in shares of Fiverr International during the 4th quarter valued at $187,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Fiverr International during the 3rd quarter worth $683,000. Hedge funds and other 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.