JPMorgan Chase & Co. Upgrades Fiverr International (NYSE:FVRR) to Overweight

Fiverr International (NYSE:FVRR) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm currently has a $30.00 price objective on the stock, down from their prior price objective of $32.00. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 35.81% from the stock’s previous close.

A number of other research firms have also weighed in on FVRR. Wall Street Zen lowered shares of Fiverr International from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 29th. Citigroup upped their price target on Fiverr International from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Needham & Company LLC lowered their target price on shares of Fiverr International from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday. Scotiabank increased their target price on Fiverr International from $31.00 to $34.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 8th. Finally, The Goldman Sachs Group increased their price target on shares of Fiverr International from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.13.

Fiverr International Stock Up 0.0%

Shares of Fiverr International stock opened at $22.09 on Thursday. The stock’s fifty day moving average is $28.82 and its 200-day moving average is $28.31. The firm has a market capitalization of $791.71 million, a PE ratio of 46.02 and a beta of 1.45. Fiverr International has a 12-month low of $20.83 and a 12-month high of $36.11. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 0.07.

Fiverr International (NYSE:FVRR) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.03). Fiverr International had a net margin of 4.34% and a return on equity of 11.87%. The company had revenue of $108.65 million for the quarter, compared to analysts’ expectations of $107.75 million. During the same quarter in the prior year, the firm earned $0.58 earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. Equities analysts anticipate that Fiverr International will post 1.04 earnings per share for the current year.

Institutional Investors Weigh In On Fiverr International

Hedge funds and other institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. boosted its holdings in Fiverr International by 53.3% in the 1st quarter. Ameriprise Financial Inc. now owns 1,870,478 shares of the company’s stock valued at $44,293,000 after purchasing an additional 650,672 shares during the period. Engine Capital Management LP increased its position in shares of Fiverr International by 2.3% in the fourth 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 during the period. Millennium Management LLC raised its stake in Fiverr International by 20.9% in the first quarter. Millennium Management LLC now owns 369,714 shares of the company’s stock valued at $8,755,000 after purchasing an additional 63,828 shares in the last quarter. Arkadios Wealth Advisors lifted its position in Fiverr International by 7.3% during the first quarter. Arkadios Wealth Advisors now owns 147,895 shares of the company’s stock worth $3,502,000 after purchasing an additional 10,022 shares during the period. Finally, Accurate Wealth Management LLC grew its stake in Fiverr International by 9.8% during the second quarter. Accurate Wealth Management LLC now owns 128,576 shares of the company’s stock worth $3,540,000 after buying an additional 11,463 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.