Fiverr International (NYSE:FVRR) Shares Gap Down – Here’s What Happened

Fiverr International Ltd. (NYSE:FVRR)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $29.81, but opened at $28.74. Fiverr International shares last traded at $29.11, with a volume of 63,129 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have commented on FVRR shares. Needham & Company LLC reissued a “buy” rating and issued a $36.00 price objective on shares of Fiverr International in a research note on Wednesday, October 30th. JMP Securities boosted their price objective on Fiverr International from $32.00 to $36.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Roth Mkm reaffirmed a “buy” rating and issued a $32.00 price objective (up from $30.00) on shares of Fiverr International in a research note on Thursday, August 1st. The Goldman Sachs Group cut their target price on Fiverr International from $44.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, Citigroup raised their price target on Fiverr International from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.60.

Fiverr International Stock Performance

The firm has a market cap of $1.19 billion, a PE ratio of 118.04 and a beta of 1.68. The business has a 50 day simple moving average of $25.82 and a two-hundred day simple moving average of $24.57. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 1.47.

Fiverr International (NYSE:FVRR) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.19 by $0.09. The company had revenue of $99.63 million for the quarter, compared to the consensus estimate of $96.37 million. Fiverr International had a net margin of 2.67% and a return on equity of 7.10%. As a group, equities research analysts forecast that Fiverr International Ltd. will post 0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. ARK Investment Management LLC lifted its holdings in shares of Fiverr International by 27.1% in the 2nd quarter. ARK Investment Management LLC now owns 109,586 shares of the company’s stock worth $2,568,000 after buying an additional 23,335 shares during the period. Shaker Investments LLC OH purchased a new stake in Fiverr International in the third quarter worth about $552,000. Engine Capital Management LP lifted its stake in Fiverr International by 2.7% in the second quarter. Engine Capital Management LP now owns 814,294 shares of the company’s stock worth $19,079,000 after acquiring an additional 21,144 shares during the period. Swedbank AB bought a new position in Fiverr International during the 1st quarter worth about $400,000. Finally, California State Teachers Retirement System increased its position in Fiverr International by 9.5% during the 1st quarter. California State Teachers Retirement System now owns 35,529 shares of the company’s stock valued at $749,000 after purchasing an additional 3,095 shares during the period. 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.