Fiverr International (NYSE:FVRR) Reaches New 52-Week Low – Here’s Why

Fiverr International (NYSE:FVRR)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $17.32 and last traded at $17.3450, with a volume of 1203891 shares. The stock had previously closed at $18.24.

Analysts Set New Price Targets

FVRR has been the subject of a number of recent analyst reports. Zacks Research downgraded shares of Fiverr International from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. BTIG Research raised Fiverr International from a “neutral” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Friday, September 19th. Finally, Weiss Ratings assumed coverage on Fiverr International in a report on Saturday, November 1st. They set a “sell (d+)” rating for the company. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $32.60.

Fiverr International Trading Down 1.4%

The business’s 50 day simple moving average is $20.22 and its two-hundred day simple moving average is $22.74. The stock has a market cap of $610.93 million, a P/E ratio of 28.89 and a beta of 1.29. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.05.

Fiverr International (NYSE:FVRR) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.07. Fiverr International had a return on equity of 13.53% and a net margin of 5.23%.The firm had revenue of $107.90 million for the quarter, compared to analyst estimates of $107.88 million. During the same period last year, the firm posted $0.64 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, analysts expect that Fiverr International will post 1.04 EPS for the current year.

Institutional Investors Weigh In On Fiverr International

Hedge funds and other institutional investors have recently modified their holdings of the company. Tidal Investments LLC grew its position in Fiverr International by 2.5% in the 2nd quarter. Tidal Investments LLC now owns 25,420 shares of the company’s stock valued at $746,000 after purchasing an additional 614 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Fiverr International by 4.7% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,003 shares of the company’s stock valued at $366,000 after buying an additional 672 shares during the last quarter. Investment House LLC increased its position in shares of Fiverr International by 0.3% during the second quarter. Investment House LLC now owns 277,390 shares of the company’s stock worth $8,136,000 after acquiring an additional 910 shares in the last quarter. Strategic Advocates LLC purchased a new stake in shares of Fiverr International in the third quarter worth approximately $26,000. Finally, Geode Capital Management LLC raised its position in Fiverr International by 4.5% in the 2nd quarter. Geode Capital Management LLC now owns 25,817 shares of the company’s stock valued at $756,000 after buying an additional 1,112 shares during the last quarter. 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 individuals with freelance talent across a wide range of professional services. Through its platform, Fiverr enables clients to procure work such as graphic design, digital marketing, writing and translation, video and animation, programming and tech, and business services. By offering a streamlined interface for ordering and delivering gig-based work, the company seeks to simplify the procurement of specialized skills on a project-by-project basis.

Founded in 2010 and headquartered in Tel Aviv, Israel, Fiverr serves clients and freelancers around the globe, with a particularly strong presence in North America and Europe.