Fiverr International (NYSE:FVRR) Rating Increased to Strong-Buy at Wall Street Zen

Fiverr International (NYSE:FVRR) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

Several other brokerages have also issued reports on FVRR. Scotiabank lifted their price target on Fiverr International from $31.00 to $34.00 and gave the company a “sector outperform” rating in a report on Thursday, May 8th. Needham & Company LLC reiterated a “buy” rating and set a $36.00 price target on shares of Fiverr International in a report on Thursday, May 8th. Citigroup raised their price objective on Fiverr International from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. The Goldman Sachs Group raised their price objective 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, JPMorgan Chase & Co. raised their price objective on Fiverr International from $27.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $36.00.

Fiverr International Price Performance

Shares of FVRR opened at $29.07 on Friday. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 61.86 and a beta of 1.58. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.20 and a current ratio of 1.20. Fiverr International has a one year low of $20.78 and a one year high of $36.11. The stock’s fifty day moving average is $29.62 and its 200-day moving average is $29.58.

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

Institutional Trading of Fiverr International

A number of institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC increased its position in shares of Fiverr International by 20.9% during the first quarter. Millennium Management LLC now owns 369,714 shares of the company’s stock valued at $8,755,000 after purchasing an additional 63,828 shares during the period. Jump Financial LLC boosted its stake in Fiverr International by 29.8% in the 1st quarter. Jump Financial LLC now owns 104,839 shares of the company’s stock valued at $2,483,000 after buying an additional 24,085 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in 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 buying an additional 650,672 shares in the last quarter. Quantbot Technologies LP boosted its stake in Fiverr International by 5,825.9% in the 1st quarter. Quantbot Technologies LP now owns 11,911 shares of the company’s stock valued at $282,000 after buying an additional 11,710 shares in the last quarter. Finally, Arkadios Wealth Advisors boosted its stake in Fiverr International by 7.3% in the 1st quarter. Arkadios Wealth Advisors now owns 147,895 shares of the company’s stock valued at $3,502,000 after buying an additional 10,022 shares in the last quarter. 59.00% of the stock is currently owned by institutional investors.

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.