Fiverr International (NYSE:FVRR) Price Target Raised to $10.00

Fiverr International (NYSE:FVRR) had its price target increased by The Goldman Sachs Group from $9.00 to $10.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts have also issued reports about the company. UBS Group lowered their target price on Fiverr International from $10.00 to $9.50 and set a “neutral” rating on the stock in a report on Friday, October 30th. Needham & Company LLC reissued a “hold” rating on shares of Fiverr International in a report on Friday, October 30th. Royal Bank Of Canada reduced their price objective on shares of Fiverr International from $16.00 to $9.00 and set a “sector perform” rating for the company in a research report on Thursday, July 30th. Weiss Ratings cut shares of Fiverr International from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, October 30th. Finally, Wall Street Zen downgraded shares of Fiverr International from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Eleven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Fiverr International has a consensus rating of “Reduce” and an average price target of $11.06.

Fiverr International Price Performance

NYSE FVRR opened at $8.73 on Monday. Fiverr International has a 12 month low of $8.01 and a 12 month high of $22.84. The firm has a market capitalization of $314.02 million, a PE ratio of 5.29 and a beta of 1.56. The company’s 50 day simple moving average is $8.75 and its 200 day simple moving average is $10.60.

Fiverr International (NYSE:FVRR) last released its earnings results on Thursday, October 29th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.14. The firm had revenue of $90.90 million during the quarter, compared to the consensus estimate of $83.78 million. Fiverr International had a return on equity of 13.54% and a net margin of 6.42%. The firm’s revenue for the quarter was down 15.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.15 earnings per share. Sell-side analysts anticipate that Fiverr International will post 0.88 earnings per share for the current fiscal year.

Institutional Trading of Fiverr International

A number of hedge funds have recently bought and sold shares of the company. Engine Capital Management LP boosted its stake in Fiverr International by 78.4% in the 1st quarter. Engine Capital Management LP now owns 1,338,644 shares of the company’s stock worth $13,413,000 after purchasing an additional 588,220 shares during the period. Wellington Management Group LLP raised its stake in Fiverr International by 16.5% during the 2nd quarter. Wellington Management Group LLP now owns 1,269,405 shares of the company’s stock valued at $13,100,000 after purchasing an additional 179,418 shares during the period. Sparta 24 Ltd. acquired a new stake in Fiverr International during the 1st quarter valued at $9,410,000. Renaissance Technologies LLC raised its stake in Fiverr International by 26.0% during the 1st quarter. Renaissance Technologies LLC now owns 731,659 shares of the company’s stock valued at $7,331,000 after purchasing an additional 151,200 shares during the period. Finally, Rice Hall James & Associates LLC lifted its holdings in shares of Fiverr International by 5.3% in the first quarter. Rice Hall James & Associates LLC now owns 304,628 shares of the company’s stock valued at $3,052,000 after purchasing an additional 15,331 shares in the last quarter. 59.00% of the stock is owned by hedge funds and other institutional investors.

About Fiverr International

Fiverr International Ltd. operates an online marketplace that connects businesses and individual customers with freelancers offering digital services. The platform covers categories such as graphic design, digital marketing, writing and translation, video and animation, programming and technology, music and audio, business services, and consulting.

Fiverr’s marketplace is designed to support transactions between buyers and sellers, including service discovery, communication, payments, and delivery.