Fiverr International (NYSE:FVRR) Given New $32.00 Price Target at JPMorgan Chase & Co.

Fiverr International (NYSE:FVRR) had its price target boosted by JPMorgan Chase & Co. from $27.00 to $32.00 in a research report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other research analysts have also recently issued reports about the stock. Citizens Jmp cut shares of Fiverr International from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $35.00 price objective on shares of Fiverr International in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and set a $36.00 target price on shares of Fiverr International in a research note on Thursday. JMP Securities cut Fiverr International from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group lifted their price objective on Fiverr International from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.89.

Fiverr International Price Performance

Shares of NYSE:FVRR opened at $30.47 on Friday. The business has a fifty day moving average price of $25.50 and a 200-day moving average price of $29.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.10 and a quick ratio of 2.99. The company has a market capitalization of $1.09 billion, a PE ratio of 64.83 and a beta of 1.67. Fiverr International has a 1-year low of $20.78 and a 1-year high of $36.11.

Fiverr International declared that its Board of Directors has initiated a stock 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Fiverr International

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ameriprise Financial Inc. boosted 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 worth $38,704,000 after buying an additional 219,957 shares during the last quarter. Engine Capital Management LP grew its position in shares of Fiverr International by 2.3% during the 4th quarter. Engine Capital Management LP now owns 1,204,316 shares of the company’s stock valued at $38,213,000 after acquiring an additional 27,003 shares during the period. Millennium Management LLC increased its stake in shares of Fiverr International by 169.9% in the 4th quarter. Millennium Management LLC now owns 305,886 shares of the company’s stock worth $9,706,000 after purchasing an additional 192,534 shares in the last quarter. Pier Capital LLC purchased a new position in Fiverr International during the fourth quarter valued at $8,674,000. Finally, Arkadios Wealth Advisors grew its holdings in Fiverr International by 7.3% during the first quarter. Arkadios Wealth Advisors now owns 147,895 shares of the company’s stock valued at $3,502,000 after purchasing an additional 10,022 shares during the period. 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.