Fiverr International (NYSE:FVRR) Price Target Cut to $10.00 by Analysts at JPMorgan Chase & Co.

Fiverr International (NYSE:FVRR) had its target price cut by equities researchers at JPMorgan Chase & Co. from $11.00 to $10.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 13.19% from the company’s current price.

A number of other research firms have also recently weighed in on FVRR. Citigroup cut their price objective on shares of Fiverr International from $15.00 to $11.50 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Weiss Ratings lowered shares of Fiverr International from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, September 29th. Zacks Research raised shares of Fiverr International from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Scotiabank downgraded shares of Fiverr International from a “sector outperform” rating to a “sector perform” rating and set a $10.00 price target on the stock. in a report on Thursday, July 30th. Finally, Wall Street Zen downgraded shares of Fiverr International from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Eleven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $11.94.

Fiverr International Trading Up 3.3%

Shares of NYSE FVRR traded up $0.28 during trading hours on Thursday, hitting $8.84. 344,855 shares of the company traded hands, compared to its average volume of 969,993. The stock has a market capitalization of $317.63 million, a price-to-earnings ratio of 10.91 and a beta of 1.51. The company’s 50 day moving average price is $8.93 and its 200 day moving average price is $10.00. Fiverr International has a 12 month low of $8.31 and a 12 month high of $23.85.

Fiverr International (NYSE:FVRR) last released its quarterly earnings results on Tuesday, June 30th. The company reported $0.50 earnings per share for the quarter. The company had revenue of $97.78 million for the quarter. Fiverr International had a return on equity of 16.14% and a net margin of 7.18%. Equities analysts anticipate that Fiverr International will post 0.93 EPS for the current year.

Institutional Trading of Fiverr International

Hedge funds and other institutional investors have recently bought and sold shares of the business. Engine Capital Management LP lifted its position in shares of Fiverr International by 20.3% during the fourth quarter. Engine Capital Management LP now owns 750,424 shares of the company’s stock worth $14,828,000 after purchasing an additional 126,701 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Fiverr International by 16.5% in the second quarter. Wellington Management Group LLP now owns 1,269,405 shares of the company’s stock worth $13,100,000 after purchasing an additional 179,418 shares during the last quarter. Sparta 24 Ltd. bought a new position in shares of Fiverr International in the first quarter worth about $9,410,000. Renaissance Technologies LLC grew its holdings in shares of Fiverr International by 26.0% in the first quarter. Renaissance Technologies LLC now owns 731,659 shares of the company’s stock worth $7,331,000 after purchasing an additional 151,200 shares during the last quarter. Finally, Rice Hall James & Associates LLC increased its stake in Fiverr International by 5.3% in the 1st quarter. Rice Hall James & Associates LLC now owns 304,628 shares of the company’s stock worth $3,052,000 after buying an additional 15,331 shares during the period. Hedge funds and other institutional investors own 59.00% of the company’s stock.

Fiverr International Company Profile

Fiverr International Ltd. operates an online marketplace that connects businesses and individual buyers with freelance professionals offering digital services. The platform covers categories such as graphic design, digital marketing, writing and translation, video and animation, music and audio, programming and technology, business services, and consulting.

Fiverr supports transactions between buyers and freelancers through tools for discovering services, communicating, managing projects, and completing payments.