Analysts Project Fiverr International Target Price at $32.60

Shares of Fiverr International (NYSE:FVRR) are currently rated as a “Moderate Buy” by thirteen research firms, according to MarketBeat Ratings. This consensus reflects a mix of opinions, with one analyst issuing a sell rating, four recommending a hold, while seven analysts have assigned buy ratings, and one has given a strong buy rating. The average price target for Fiverr shares over the next 12 months stands at $32.60.

Several analysts have updated their ratings in recent months, contributing to the current consensus. On July 31, Citigroup reduced its target price for Fiverr from $40.00 to $33.00, while maintaining a “buy” rating. On September 19, BTIG Research upgraded the stock from a “neutral” rating to a “buy” and set a target price of $31.00. Additionally, Royal Bank of Canada lowered its price objective from $35.00 to $28.00 on the same day as Citigroup, assigning a “sector perform” rating.

The analysis continued with Zacks Research, which upgraded Fiverr from a “hold” to a “strong-buy” rating on September 22. In contrast, Weiss Ratings initiated coverage on Fiverr on November 1, issuing a “sell (d+)” rating for the company.

Fiverr’s stock opened at $21.74 on Friday, reflecting a market capitalization of $779.27 million. The company has a P/E ratio of 36.85 and a beta of 1.49, indicating higher volatility compared to the market. Over the past year, Fiverr shares have fluctuated between a low of $19.69 and a high of $36.11. As of now, the fifty-day moving average price is $23.23, while the 200-day moving average stands at $25.99.

In its most recent earnings report released on November 5, Fiverr announced earnings of $0.77 per share for the quarter, surpassing analysts’ expectations of $0.70 by $0.07. The company reported $107.90 million in revenue, slightly above the projected $107.88 million. This represented an 8.3% increase in quarterly revenue compared to the same period last year, where Fiverr posted earnings of $0.64 per share. For the current fiscal year, analysts anticipate that Fiverr will achieve earnings per share of $1.04.

Fiverr International Ltd. operates a global online marketplace that connects sellers with buyers for a variety of services. The platform encompasses ten categories, including graphic design, digital marketing, writing and translation, video and animation, music and audio, programming and tech, business services, data analytics, lifestyle, and photography.

As investors monitor these developments, the consensus ratings and price targets will likely influence market sentiment regarding Fiverr’s performance in the upcoming year.