Brokerages Set Fiverr International Ltd. (NYSE:FVRR) Price Target at $34.63

Fiverr International Ltd. (NYSE:FVRR) has been given a consensus recommendation of “Hold” by the nine ratings firms that are covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $34.63.

Several research firms have commented on FVRR. UBS Group boosted their target price on shares of Fiverr International from $31.00 to $32.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. JMP Securities downgraded shares of Fiverr International from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 20th. Citizens Jmp downgraded shares of Fiverr International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $35.00 price objective on shares of Fiverr International in a report on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 price objective on shares of Fiverr International in a report on Wednesday, February 19th.

Fiverr International Stock Performance

FVRR stock opened at $26.39 on Friday. The company has a quick ratio of 2.99, a current ratio of 1.10 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $946.03 million, a price-to-earnings ratio of 56.16 and a beta of 1.93. Fiverr International has a 12 month low of $18.83 and a 12 month high of $36.11. The firm has a 50 day moving average of $30.35 and a two-hundred day moving average of $28.84.

Fiverr International declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 10.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Fiverr International

A number of hedge funds have recently made changes to their positions in FVRR. Pier Capital LLC acquired a new stake in shares of Fiverr International during the 4th quarter worth about $8,674,000. Ameriprise Financial Inc. increased its position in shares of Fiverr International by 22.0% during the 4th quarter. Ameriprise Financial Inc. now owns 1,219,806 shares of the company’s stock worth $38,704,000 after purchasing an additional 219,957 shares in the last quarter. Millennium Management LLC increased its position in shares of Fiverr International by 169.9% during 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. Jump Financial LLC increased its position in shares of Fiverr International by 594.7% during the 4th quarter. Jump Financial LLC now owns 80,754 shares of the company’s stock worth $2,562,000 after purchasing an additional 69,129 shares in the last quarter. Finally, Engine Capital Management LP increased 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 worth $38,213,000 after purchasing an additional 27,003 shares in the last quarter. Institutional investors and hedge funds 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.