Fiverr International (NYSE:FVRR) Initiates Share Buyback Plan

Fiverr International (NYSE:FVRR) announced that its board has authorized a stock buyback plan on Tuesday, March 11th, RTT News reports. The company plans to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 10.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Fiverr International Stock Performance

Shares of FVRR opened at $26.50 on Thursday. Fiverr International has a 1 year low of $18.83 and a 1 year high of $36.11. The company has a market cap of $949.94 million, a price-to-earnings ratio of 56.39 and a beta of 1.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.99 and a current ratio of 1.10. The firm has a fifty day moving average of $30.25 and a 200-day moving average of $28.82.

Analyst Upgrades and Downgrades

FVRR has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $36.00 price target on shares of Fiverr International in a report on Wednesday, February 19th. Scotiabank started coverage on shares of Fiverr International in a research report on Wednesday. They set a “sector outperform” rating and a $31.00 price target for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $35.00 price target on shares of Fiverr International in a research note on Thursday, February 20th. JMP Securities downgraded shares of Fiverr International from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 20th. Finally, UBS Group increased their price objective on shares of Fiverr International from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.22.

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.