Fiverr International (NYSE:FVRR) Now Covered by Scotiabank

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

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

Fiverr International Price Performance

Shares of NYSE FVRR opened at $26.50 on Wednesday. The business’s 50 day moving average price is $30.25 and its two-hundred day moving average price is $28.82. The company has a market cap of $949.94 million, a PE ratio of 56.39 and a beta of 1.93. The company has a quick ratio of 2.99, a current ratio of 1.10 and a debt-to-equity ratio of 0.06. Fiverr International has a twelve month low of $18.83 and a twelve month high of $36.11.

Fiverr International announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 11th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 10.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Fiverr International

Several institutional investors have recently made changes to their positions in FVRR. Huntington National Bank boosted its stake in shares of Fiverr International by 35,200.0% in the third quarter. Huntington National Bank now owns 1,059 shares of the company’s stock valued at $27,000 after buying an additional 1,056 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Fiverr International by 134.9% in the fourth quarter. Jones Financial Companies Lllp now owns 1,031 shares of the company’s stock valued at $33,000 after buying an additional 592 shares during the period. SBI Securities Co. Ltd. acquired a new position in Fiverr International during the fourth quarter valued at approximately $57,000. KLP Kapitalforvaltning AS acquired a new position in Fiverr International during the fourth quarter valued at approximately $187,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Fiverr International during the third quarter valued at approximately $683,000. 59.00% of the stock is currently owned by institutional investors.

Fiverr International Company Profile

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.