Fiverr International (NYSE:FVRR) Shares Gap Up – Here’s Why

Shares of Fiverr International Ltd. (NYSE:FVRR) gapped up prior to trading on Tuesday . The stock had previously closed at $24.76, but opened at $26.10. Fiverr International shares last traded at $26.28, with a volume of 55,549 shares.

Analysts Set New Price Targets

Several analysts have weighed in on FVRR shares. Citizens Jmp cut Fiverr International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 20th. JMP Securities lowered 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 issued a $35.00 target price on shares of Fiverr International in a research report on Thursday, February 20th. 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. Finally, 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. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Fiverr International presently has an average rating of “Moderate Buy” and an average price target of $34.22.

Fiverr International Stock Performance

The firm 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 quick ratio of 2.99 and a current ratio of 1.10. The business’s 50-day simple moving average is $30.25 and its 200 day simple moving average is $28.82.

Fiverr International announced that its board has initiated a share buyback plan on Tuesday, March 11th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to repurchase up to 10.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Fiverr International

Several institutional investors have recently made changes to their positions in FVRR. Huntington National Bank raised its position in shares of Fiverr International by 38.3% during the 4th 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 period. Jones Financial Companies Lllp raised its position in shares of Fiverr International by 134.9% during 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 last quarter. New York State Common Retirement Fund grew its stake 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 in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Fiverr International during the fourth quarter valued at about $57,000. Finally, Geode Capital Management LLC boosted its stake 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 buying an additional 2,961 shares during the last quarter. Institutional investors 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.