Fiverr International (NYSE:FVRR) Shares Up 5% – Still a Buy?

Shares of Fiverr International Ltd. (NYSE:FVRR) rose 5% during mid-day trading on Monday . The company traded as high as $24.00 and last traded at $23.30. Approximately 560,510 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 766,160 shares. The stock had previously closed at $22.20.

Analyst Ratings Changes

Several equities analysts recently commented on FVRR shares. 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 shares of Fiverr International from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $35.00 price target on shares of Fiverr International in a report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 price objective on shares of Fiverr International in a report on Wednesday, February 19th. Finally, Scotiabank began coverage on Fiverr International in a research note on Wednesday, March 12th. They set a “sector outperform” rating and a $31.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Fiverr International presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.22.

Fiverr International Price Performance

The company has a market cap of $840.61 million, a P/E ratio of 49.90 and a beta of 1.98. The company’s 50-day moving average price is $27.52 and its two-hundred day moving average price is $28.86. 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 announced that its Board of Directors has initiated a stock buyback plan on Tuesday, March 11th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to buy up to 10.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp raised its position in shares of Fiverr International by 134.9% during 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 in the last quarter. Huntington National Bank increased its stake in Fiverr International by 38.3% during the fourth quarter. Huntington National Bank now owns 1,465 shares of the company’s stock valued at $46,000 after purchasing an additional 406 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Fiverr International during the fourth quarter worth $57,000. KLP Kapitalforvaltning AS bought a new position in shares of Fiverr International in the 4th quarter worth about $187,000. Finally, New York State Common Retirement Fund boosted its holdings in shares of 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 valued at $788,000 after buying an additional 1,382 shares during the period. Institutional investors and hedge funds own 59.00% of the company’s stock.

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.