Needham & Company LLC Reaffirms “Buy” Rating for Fiverr International (NYSE:FVRR)

Fiverr International (NYSE:FVRR)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports. They presently have a $36.00 target price on the stock. Needham & Company LLC’s target price would suggest a potential upside of 23.88% from the company’s previous close.

Several other equities research analysts also recently commented on FVRR. JPMorgan Chase & Co. reduced their target price on Fiverr International from $33.00 to $27.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Citizens Jmp lowered shares of Fiverr International from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. Scotiabank assumed coverage on shares of Fiverr International in a research note on Wednesday, March 12th. They issued a “sector outperform” rating and a $31.00 price objective for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $35.00 target price on shares of Fiverr International in a research note on Thursday, February 20th. Finally, JMP Securities cut Fiverr International from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $34.11.

Fiverr International Stock Performance

NYSE:FVRR opened at $29.06 on Thursday. Fiverr International has a twelve month low of $19.98 and a twelve month high of $36.11. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 61.83 and a beta of 1.67. The company has a 50-day moving average of $25.30 and a 200-day moving average of $28.97. The company has a current ratio of 1.10, a quick ratio of 2.99 and a debt-to-equity ratio of 0.06.

Fiverr International declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 10.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp increased its stake in shares of Fiverr International by 134.9% in the 4th quarter. Jones Financial Companies Lllp now owns 1,031 shares of the company’s stock valued at $33,000 after acquiring an additional 592 shares during the last quarter. Huntington National Bank increased its stake in Fiverr International by 38.3% in the fourth quarter. Huntington National Bank now owns 1,465 shares of the company’s stock valued at $46,000 after purchasing an additional 406 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Fiverr International in the fourth quarter worth $57,000. KLP Kapitalforvaltning AS bought a new position in shares of Fiverr International during the fourth quarter worth $187,000. Finally, Legato Capital Management LLC acquired a new position in shares of Fiverr International in the 1st quarter valued at $516,000. 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.