JPMorgan Chase & Co. Has Lowered Expectations for Fiverr International (NYSE:FVRR) Stock Price

Fiverr International (NYSE:FVRR) had its target price cut by analysts at JPMorgan Chase & Co. from $33.00 to $27.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 6.64% from the company’s previous close.

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

Fiverr International Stock Up 10.1 %

FVRR stock opened at $25.32 on Tuesday. The firm has a market cap of $907.57 million, a PE ratio of 53.87 and a beta of 1.98. Fiverr International has a one year low of $18.83 and a one year high of $36.11. 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’s 50 day moving average price is $26.94 and its 200-day moving average price is $28.78.

Fiverr International announced that its board has authorized a share repurchase program on Tuesday, March 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. raised its position in Fiverr International by 22.0% in the 4th quarter. Ameriprise Financial Inc. now owns 1,219,806 shares of the company’s stock valued at $38,704,000 after purchasing an additional 219,957 shares in the last quarter. Engine Capital Management LP raised its holdings in Fiverr International by 2.3% in the fourth quarter. Engine Capital Management LP now owns 1,204,316 shares of the company’s stock valued at $38,213,000 after acquiring an additional 27,003 shares in the last quarter. Millennium Management LLC lifted its stake in Fiverr International by 169.9% in the fourth quarter. Millennium Management LLC now owns 305,886 shares of the company’s stock worth $9,706,000 after acquiring an additional 192,534 shares during the last quarter. Pier Capital LLC acquired a new position in Fiverr International during the 4th quarter worth approximately $8,674,000. Finally, Arkadios Wealth Advisors grew its holdings in 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 in the last quarter. 59.00% of the stock is currently owned by hedge funds and other 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.