Fiverr International (NYSE:FVRR) Trading Down 8.9% – Here’s Why

Fiverr International Ltd. (NYSE:FVRR)’s share price dropped 8.9% during mid-day trading on Thursday . The stock traded as low as $27.50 and last traded at $27.54. Approximately 438,320 shares were traded during trading, a decline of 42% from the average daily volume of 761,283 shares. The stock had previously closed at $30.23.

Analyst Ratings Changes

FVRR has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $36.00 price objective on shares of Fiverr International in a research report on Wednesday. JMP Securities cut shares of Fiverr International from an “outperform” rating to a “market perform” rating in a research report on Thursday. Citigroup boosted their price target on shares of Fiverr International from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada restated a “sector perform” rating and issued a $35.00 price target on shares of Fiverr International in a research report on Thursday. Finally, BTIG Research cut shares of Fiverr International from a “buy” rating to a “neutral” rating in a research report on Monday, November 4th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fiverr International presently has a consensus rating of “Hold” and an average price target of $33.20.

Fiverr International Price Performance

The stock has a market capitalization of $1.06 billion, a PE ratio of 105.50 and a beta of 1.69. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 1.47. The stock’s 50 day moving average price is $32.29 and its 200-day moving average price is $28.67.

Institutional Trading of Fiverr International

Hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp lifted its stake in Fiverr International by 134.9% in the fourth quarter. Jones Financial Companies Lllp now owns 1,031 shares of the company’s stock worth $33,000 after acquiring an additional 592 shares during the period. Huntington National Bank raised its holdings in Fiverr International by 35,200.0% in the third quarter. Huntington National Bank now owns 1,059 shares of the company’s stock worth $27,000 after purchasing an additional 1,056 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Fiverr International in the fourth quarter worth about $57,000. KLP Kapitalforvaltning AS bought a new position in Fiverr International in the fourth quarter worth about $187,000. Finally, New York State Common Retirement Fund raised its holdings in Fiverr International by 5.9% in the fourth quarter. New York State Common Retirement Fund now owns 24,824 shares of the company’s stock worth $788,000 after purchasing an additional 1,382 shares in the last quarter. 59.00% of the stock is owned by hedge funds and other institutional investors.

Fiverr International Company Profile

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.