Fiverr International (NYSE:FVRR) Shares Gap Up – Time to Buy?

Fiverr International Ltd. (NYSE:FVRR) shares gapped up before the market opened 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 changing hands.

Analyst Ratings Changes

FVRR has been the topic of a number of research analyst reports. JMP Securities cut shares of Fiverr International from an “outperform” rating to a “market perform” rating in a report on Thursday, February 20th. UBS Group upped their target price on Fiverr International from $31.00 to $32.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Needham & Company LLC restated a “buy” rating and issued a $36.00 price objective on shares of Fiverr International in a report on Wednesday, February 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $35.00 target price on shares of Fiverr International in a research report on Thursday, February 20th. Finally, Scotiabank initiated coverage on shares of Fiverr International in a research report on Wednesday. They issued a “sector outperform” rating and a $31.00 price target for the company. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from 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 50-day moving average of $30.25 and a 200-day moving average of $28.82. The company has a current ratio of 1.10, a quick ratio of 2.99 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $949.94 million, a price-to-earnings ratio of 56.39 and a beta of 1.93.

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

Institutional Investors Weigh In On Fiverr International

A number of large investors have recently bought and sold shares of FVRR. Jones Financial Companies Lllp raised its holdings 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 worth $33,000 after purchasing an additional 592 shares during the last quarter. Huntington National Bank raised its stake in shares of Fiverr International by 35,200.0% during the 3rd 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 last quarter. SBI Securities Co. Ltd. purchased a new stake in Fiverr International in the 4th quarter worth approximately $57,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Fiverr International during the 4th quarter worth approximately $187,000. Finally, New York State Common Retirement Fund lifted its stake in shares of Fiverr International by 5.9% in the 4th quarter. New York State Common Retirement Fund now owns 24,824 shares of the company’s stock valued at $788,000 after purchasing an additional 1,382 shares during the period. Hedge funds and other 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.