Fiverr International’s (FVRR) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Fiverr International (NYSE:FVRR) in a report released on Thursday,Benzinga reports. Needham & Company LLC currently has a $36.00 price target on the stock.

Several other research analysts have also recently weighed in on FVRR. JPMorgan Chase & Co. decreased their price target on shares of Fiverr International from $33.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $35.00 price target on shares of Fiverr International in a report on Thursday, February 20th. Citizens Jmp lowered Fiverr International from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. JMP Securities cut shares of Fiverr International from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 20th. Finally, Scotiabank started coverage on shares of Fiverr International in a research report on Wednesday, March 12th. They set a “sector outperform” rating and a $31.00 target price for the company. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $35.89.

Fiverr International Stock Performance

Shares of FVRR opened at $30.47 on Thursday. Fiverr International has a 52-week low of $20.78 and a 52-week high of $36.11. The stock’s 50-day simple moving average is $25.50 and its 200 day simple moving average is $29.13. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.99 and a current ratio of 1.10. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 64.83 and a beta of 1.67.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Jones Financial Companies Lllp grew its position in Fiverr International by 134.9% during the 4th quarter. Jones Financial Companies Lllp now owns 1,031 shares of the company’s stock worth $33,000 after acquiring an additional 592 shares during the last quarter. Huntington National Bank boosted its stake in shares of Fiverr International by 38.3% during 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 during the period. SBI Securities Co. Ltd. bought a new position in shares of Fiverr International in the fourth quarter worth approximately $57,000. KLP Kapitalforvaltning AS purchased a new position in shares of Fiverr International in the fourth quarter worth $187,000. Finally, Legato Capital Management LLC bought a new stake in Fiverr International during the 1st quarter valued at $516,000. 59.00% of the stock is owned by institutional investors.

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.