Fiverr International (NYSE:FVRR) Price Target Cut to $27.00 by Analysts at JPMorgan Chase & Co.

Fiverr International (NYSE:FVRR) had its price target trimmed by JPMorgan Chase & Co. from $33.00 to $27.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

FVRR has been the topic of several other research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 price target on shares of Fiverr International in a research report on Wednesday, February 19th. Scotiabank began coverage on Fiverr International in a research report on Wednesday, March 12th. They set a “sector outperform” rating and a $31.00 target price on the stock. Citizens Jmp lowered Fiverr International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 20th. JMP Securities cut Fiverr International from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 20th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $35.00 target price on shares of Fiverr International in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $33.50.

Fiverr International Stock Performance

FVRR opened at $24.49 on Tuesday. Fiverr International has a 1-year low of $19.30 and a 1-year high of $36.11. The company has a market cap of $877.64 million, a price-to-earnings ratio of 52.10 and a beta of 1.98. The company’s fifty day moving average price is $26.84 and its two-hundred day moving average price is $28.76. The company has a current ratio of 1.10, a quick ratio of 2.99 and a debt-to-equity ratio of 0.06.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FVRR. Public Employees Retirement System of Ohio purchased a new position in Fiverr International in the third quarter valued at approximately $683,000. Geode Capital Management LLC lifted its position in shares of Fiverr International by 12.6% during the 3rd quarter. Geode Capital Management LLC now owns 26,472 shares of the company’s stock valued at $685,000 after buying an additional 2,961 shares during the last quarter. Arkadios Wealth Advisors grew its stake in shares of Fiverr International by 22.0% during the 4th quarter. Arkadios Wealth Advisors now owns 137,873 shares of the company’s stock worth $4,375,000 after acquiring an additional 24,839 shares during the period. New York State Common Retirement Fund increased its holdings in Fiverr International by 5.9% in the 4th quarter. New York State Common Retirement Fund now owns 24,824 shares of the company’s stock worth $788,000 after acquiring an additional 1,382 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in Fiverr International by 134.9% in the 4th quarter. Jones Financial Companies Lllp now owns 1,031 shares of the company’s stock valued at $33,000 after acquiring an additional 592 shares during the period. 59.00% of the stock is owned by institutional investors.

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.