Zacks Research Downgrades Fiverr International (NYSE:FVRR) to Strong Sell

Fiverr International (NYSE:FVRR) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on FVRR. The Goldman Sachs Group decreased their price objective on Fiverr International from $44.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, February 19th. BTIG Research cut their target price on Fiverr International from $31.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Needham & Company LLC restated a “hold” rating on shares of Fiverr International in a report on Wednesday, February 18th. Scotiabank dropped their price objective on shares of Fiverr International from $34.00 to $16.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 19th. Finally, Citigroup reiterated a “neutral” rating and set a $15.00 price objective (down from $33.00) on shares of Fiverr International in a research report on Thursday, February 19th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $19.30.

Fiverr International Price Performance

FVRR stock opened at $11.09 on Monday. Fiverr International has a 52 week low of $10.25 and a 52 week high of $34.13. The company has a quick ratio of 1.33, a current ratio of 1.94 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $16.85 and a two-hundred day simple moving average of $20.57. The firm has a market capitalization of $397.29 million, a P/E ratio of 19.45 and a beta of 1.31.

Fiverr International (NYSE:FVRR) last posted its earnings results on Wednesday, February 18th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. The firm had revenue of $107.17 million for the quarter, compared to the consensus estimate of $108.98 million. Fiverr International had a net margin of 4.87% and a return on equity of 16.58%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 EPS. Analysts anticipate that Fiverr International will post 1.04 earnings per share for the current fiscal year.

Institutional Trading of Fiverr International

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB boosted its stake in shares of Fiverr International by 16.6% during the third quarter. Nordea Investment Management AB now owns 544,289 shares of the company’s stock valued at $13,155,000 after purchasing an additional 77,666 shares during the period. Analyst IMS Investment Management Services Ltd. lifted its holdings in Fiverr International by 19.0% during the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 468,729 shares of the company’s stock valued at $13,748,000 after buying an additional 75,000 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Fiverr International by 188.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 804,734 shares of the company’s stock valued at $23,603,000 after buying an additional 526,060 shares in the last quarter. Acadian Asset Management LLC boosted its position in Fiverr International by 18.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,380,046 shares of the company’s stock valued at $40,450,000 after buying an additional 219,743 shares during the period. Finally, Jump Financial LLC grew its stake in Fiverr International by 63.0% in the 2nd quarter. Jump Financial LLC now owns 170,917 shares of the company’s stock worth $5,013,000 after acquiring an additional 66,078 shares in the last quarter. Hedge funds and other institutional investors own 59.00% of the company’s stock.

About Fiverr International

Fiverr International Ltd. operates an online marketplace that connects businesses and individuals with freelance talent across a wide range of professional services. Through its platform, Fiverr enables clients to procure work such as graphic design, digital marketing, writing and translation, video and animation, programming and tech, and business services. By offering a streamlined interface for ordering and delivering gig-based work, the company seeks to simplify the procurement of specialized skills on a project-by-project basis.

Founded in 2010 and headquartered in Tel Aviv, Israel, Fiverr serves clients and freelancers around the globe, with a particularly strong presence in North America and Europe.