Fiverr International (NYSE:FVRR) Stock Gets Price Target Cut from The Goldman Sachs Group

Fiverr International (NYSE:FVRR) had its price target trimmed by The Goldman Sachs Group from $13.00 to $9.00 in a report released on Monday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

FVRR has been the subject of several other reports. JPMorgan Chase & Co. decreased their price target on shares of Fiverr International from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, October 15th. Zacks Research raised shares of Fiverr International from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Citigroup cut their price target on shares of Fiverr International from $15.00 to $11.50 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Weiss Ratings upgraded shares of Fiverr International from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 15th. Finally, 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 on the stock in a research note on Thursday, July 30th. Eleven equities research 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, the stock presently has an average rating of “Reduce” and an average target price of $11.44.

Fiverr International Price Performance

Shares of NYSE FVRR opened at $8.08 on Monday. The company has a 50 day simple moving average of $8.82 and a 200 day simple moving average of $10.82. The firm has a market cap of $290.33 million, a PE ratio of 9.97 and a beta of 1.51. Fiverr International has a 1 year low of $8.01 and a 1 year high of $23.30.

Fiverr International (NYSE:FVRR) last posted its earnings results on Tuesday, June 30th. The company reported $0.50 EPS for the quarter. Fiverr International had a net margin of 7.18% and a return on equity of 16.14%. The business had revenue of $97.78 million for the quarter. As a group, research analysts anticipate that Fiverr International will post 0.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fiverr International

A number of hedge funds have recently made changes to their positions in FVRR. Engine Capital Management LP boosted its holdings in Fiverr International by 78.4% in the first quarter. Engine Capital Management LP now owns 1,338,644 shares of the company’s stock valued at $13,413,000 after acquiring an additional 588,220 shares during the last quarter. Wellington Management Group LLP increased its position 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 approximately $9,410,000. Renaissance Technologies LLC raised its holdings in Fiverr International by 26.0% during the 1st quarter. Renaissance Technologies LLC now owns 731,659 shares of the company’s stock worth $7,331,000 after purchasing an additional 151,200 shares during the last quarter. Finally, Rice Hall James & Associates LLC raised its holdings in Fiverr International by 5.3% during the 1st quarter. Rice Hall James & Associates LLC now owns 304,628 shares of the company’s stock worth $3,052,000 after purchasing an additional 15,331 shares during the last quarter. 59.00% of the stock is currently owned by 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.