Fiverr International (NYSE:FVRR) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Fiverr International (NYSE:FVRR) from a hold rating to a strong sell rating in a report published on Monday morning,Zacks.com reports.

Several other research firms have also issued reports on FVRR. Wall Street Zen lowered shares of Fiverr International from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. JPMorgan Chase & Co. restated a “neutral” rating and set a $15.00 target price (down from $30.00) on shares of Fiverr International in a research note on Thursday, February 19th. Citigroup reiterated a “neutral” rating and issued a $15.00 price target (down from $33.00) on shares of Fiverr International in a research note on Thursday, February 19th. Weiss Ratings reissued a “sell (d+)” rating on shares of Fiverr International in a report on Thursday, January 29th. Finally, Scotiabank cut their price objective on shares of Fiverr International from $34.00 to $16.00 and set a “sector outperform” rating on the stock in a report on Thursday, February 19th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $19.30.

Fiverr International Price Performance

Shares of FVRR stock opened at $11.17 on Monday. The stock’s 50-day moving average is $16.68 and its 200 day moving average is $20.50. Fiverr International has a 1-year low of $10.25 and a 1-year high of $34.13. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.94 and a quick ratio of 1.33. The company has a market cap of $400.15 million, a P/E ratio of 19.59 and a beta of 1.31.

Fiverr International (NYSE:FVRR) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. Fiverr International had a net margin of 4.87% and a return on equity of 16.58%. The business had revenue of $107.17 million during the quarter, compared to analyst estimates of $108.98 million. During the same period in the prior year, the firm posted $0.64 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. Research analysts predict that Fiverr International will post 1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fiverr International

Several hedge funds have recently added to or reduced their stakes in FVRR. Strategic Advocates LLC acquired a new position in Fiverr International during the third quarter worth about $26,000. Russell Investments Group Ltd. purchased a new position in shares of Fiverr International during the 4th quarter worth approximately $32,000. Assetmark Inc. purchased a new stake in Fiverr International in the 2nd quarter valued at approximately $41,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Fiverr International during the 4th quarter valued at $43,000. Finally, Clearstead Trust LLC purchased a new position in Fiverr International during the fourth quarter worth $46,000. 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 that connects businesses and individuals with freelance talent across a wide range of professional services. Through its platform, Fiverr enables clients to procure work such as graphic design, digital marketing, writing and translation, video and animation, programming and tech, and business services. By offering a streamlined interface for ordering and delivering gig-based work, the company seeks to simplify the procurement of specialized skills on a project-by-project basis.

Founded in 2010 and headquartered in Tel Aviv, Israel, Fiverr serves clients and freelancers around the globe, with a particularly strong presence in North America and Europe.