Fiverr International (NYSE:FVRR) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Fiverr International (NYSE:FVRR) from a buy rating to a hold rating in a research note released on Saturday.

Several other research firms have also weighed in on FVRR. Royal Bank Of Canada reduced their price target on shares of Fiverr International from $16.00 to $9.00 and set a “sector perform” rating for the company in a research report on Thursday, July 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $13.00 price objective (down from $26.00) on shares of Fiverr International in a research report on Thursday. Citigroup reduced their target price on shares of Fiverr International from $15.00 to $11.50 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Weiss Ratings downgraded shares of Fiverr International from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, July 28th. Finally, Scotiabank lowered shares of Fiverr International from a “sector outperform” rating to a “sector perform” rating and set a $10.00 price target for the company. in a research note on Thursday, July 30th. Eleven investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $16.25.

Fiverr International Trading Up 6.7%

FVRR stock opened at $9.53 on Friday. The stock has a market cap of $342.57 million, a P/E ratio of 11.76 and a beta of 1.39. The stock’s fifty day simple moving average is $10.57 and its two-hundred day simple moving average is $11.57. Fiverr International has a 1-year low of $8.75 and a 1-year high of $28.00.

Fiverr International (NYSE:FVRR) last announced its earnings results on Tuesday, June 30th. The company reported $0.50 earnings per share (EPS) for the quarter. The firm had revenue of $97.78 million during the quarter. Fiverr International had a return on equity of 16.14% and a net margin of 7.18%. As a group, analysts forecast that Fiverr International will post 1.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fiverr International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FVRR. Russell Investments Group Ltd. purchased a new stake in Fiverr International during the fourth quarter valued at about $32,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Fiverr International in the fourth quarter worth about $43,000. Clearstead Trust LLC purchased a new position in shares of Fiverr International in the fourth quarter worth about $46,000. Caitong International Asset Management Co. Ltd raised its position in shares of Fiverr International by 586.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,493 shares of the company’s stock valued at $49,000 after purchasing an additional 2,130 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of Fiverr International by 4,392.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,055 shares of the company’s stock valued at $90,000 after purchasing an additional 2,987 shares during the period. 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 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.