Citigroup Issues Pessimistic Forecast for Fiverr International (NYSE:FVRR) Stock Price

Fiverr International (NYSE:FVRR) had its price objective reduced by investment analysts at Citigroup from $11.50 to $10.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup‘s target price would suggest a potential upside of 13.06% from the company’s previous close.

A number of other equities analysts also recently commented on the company. Wall Street Zen downgraded Fiverr International from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. JPMorgan Chase & Co. decreased their price target on shares of Fiverr International from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday. Scotiabank lowered their price target on Fiverr International from $10.00 to $9.00 and set a “sector perform” rating for the company in a research report on Friday. The Goldman Sachs Group upped their price target on Fiverr International from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Monday. Finally, Needham & Company LLC restated a “hold” rating on shares of Fiverr International in a research report on Friday. Eleven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $11.06.

Fiverr International Price Performance

Shares of FVRR traded up $0.46 during trading hours on Monday, hitting $8.85. 936,011 shares of the stock were exchanged, compared to its average volume of 982,518. The business has a 50-day moving average of $8.80 and a 200-day moving average of $10.73. Fiverr International has a fifty-two week low of $8.01 and a fifty-two week high of $22.84. The firm has a market capitalization of $317.99 million, a P/E ratio of 12.80 and a beta of 1.51.

Fiverr International (NYSE:FVRR) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.14. The business had revenue of $90.90 million during the quarter, compared to the consensus estimate of $83.78 million. Fiverr International had a return on equity of 13.54% and a net margin of 6.42%. The company’s quarterly revenue was down 15.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS. As a group, analysts forecast that Fiverr International will post 0.88 earnings per share for the current fiscal year.

Institutional Trading of Fiverr International

Institutional investors have recently modified their holdings of the stock. State of Wyoming acquired a new position in Fiverr International during the third quarter worth about $68,000. Tidal Investments LLC lifted its stake in Fiverr International by 235.2% in the 2nd quarter. Tidal Investments LLC now owns 100,794 shares of the company’s stock worth $1,040,000 after purchasing an additional 70,727 shares in the last quarter. Corient Private Wealth LP purchased a new position in Fiverr International in the 2nd quarter worth approximately $262,000. Wellington Management Group LLP boosted its holdings in shares of Fiverr International by 16.5% during the 2nd quarter. Wellington Management Group LLP now owns 1,269,405 shares of the company’s stock worth $13,100,000 after purchasing an additional 179,418 shares during the last quarter. Finally, Maxi Investments CY Ltd acquired a new position in shares of Fiverr International during the 2nd quarter worth approximately $111,000. Institutional investors and hedge funds own 59.00% of the company’s stock.

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.