Fiverr International (NYSE:FVRR) Earns Sector Outperform Rating from Analysts at Scotiabank

Scotiabank initiated coverage on shares of Fiverr International (NYSE:FVRR) in a research report released on Wednesday morning, Marketbeat Ratings reports. The firm issued a sector outperform rating and a $31.00 price objective on the stock.

Several other research analysts also recently issued reports on FVRR. JMP Securities downgraded shares of Fiverr International from an “outperform” rating to a “market perform” rating in a report on Thursday, February 20th. UBS Group upped their price target on shares of Fiverr International from $31.00 to $32.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Citizens Jmp downgraded shares of Fiverr International from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $35.00 price target on shares of Fiverr International in a report on Thursday, February 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $36.00 price target on shares of Fiverr International in a report on Wednesday, February 19th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.22.

Fiverr International Stock Up 0.4 %

Shares of FVRR opened at $26.50 on Wednesday. Fiverr International has a one year low of $18.83 and a one year high of $36.11. The company has a market cap of $949.94 million, a P/E ratio of 56.39 and a beta of 1.93. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.10 and a quick ratio of 2.99. The firm has a 50 day simple moving average of $30.25 and a two-hundred day simple moving average of $28.82.

Fiverr International announced that its board has authorized a share buyback plan on Tuesday, March 11th that authorizes the company to repurchase $100.00 million in 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 a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of Fiverr International

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Huntington National Bank boosted its position in Fiverr International by 35,200.0% during the third quarter. Huntington National Bank now owns 1,059 shares of the company’s stock valued at $27,000 after acquiring an additional 1,056 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Fiverr International during the third quarter valued at $683,000. Geode Capital Management LLC boosted its position in Fiverr International by 12.6% during the third quarter. Geode Capital Management LLC now owns 26,472 shares of the company’s stock valued at $685,000 after acquiring an additional 2,961 shares during the last quarter. Arkadios Wealth Advisors boosted its position in Fiverr International by 22.0% during the fourth quarter. Arkadios Wealth Advisors now owns 137,873 shares of the company’s stock valued at $4,375,000 after acquiring an additional 24,839 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in Fiverr International by 5.9% during the fourth quarter. New York State Common Retirement Fund now owns 24,824 shares of the company’s stock valued at $788,000 after acquiring an additional 1,382 shares during the last quarter. 59.00% of the stock is currently owned by institutional investors and hedge funds.

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.