Fiverr International (NYSE:FVRR) Stock Price Up 5% - Should You Buy?

Fiverr International Ltd. (NYSE:FVRR - Get Free Report)'s share price traded up 5% on Monday . The company traded as high as $24.00 and last traded at $23.30. 560,510 shares were traded during mid-day trading, a decline of 27% from the average session volume of 766,160 shares. The stock had previously closed at $22.20.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Citizens Jmp cut Fiverr International from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 20th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $35.00 price target on shares of Fiverr International in a report on Thursday, February 20th. Scotiabank started coverage on shares of Fiverr International in a report on Wednesday, March 12th. They set a "sector outperform" rating and a $31.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating and set a $36.00 price target on shares of Fiverr International in a research report on Wednesday, February 19th. Finally, JMP Securities downgraded Fiverr International from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Fiverr International currently has an average rating of "Hold" and an average target price of $33.50.

Fiverr International Stock Up 2.4 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.10 and a quick ratio of 2.99. The firm has a 50-day simple moving average of $26.72 and a two-hundred day simple moving average of $28.76. The company has a market cap of $899.79 million, a PE ratio of 53.41 and a beta of 1.98.

Fiverr International declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 10.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.

Institutional Investors Weigh In On Fiverr International

Several hedge funds have recently modified their holdings of FVRR. Jones Financial Companies Lllp raised its position in shares of Fiverr International by 134.9% in the fourth quarter. Jones Financial Companies Lllp now owns 1,031 shares of the company's stock valued at $33,000 after buying an additional 592 shares during the last quarter. Huntington National Bank lifted its stake in shares of Fiverr International by 38.3% during the 4th quarter. Huntington National Bank now owns 1,465 shares of the company's stock worth $46,000 after purchasing an additional 406 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Fiverr International during the fourth quarter worth $57,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Fiverr International in the fourth quarter valued at $187,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Fiverr International in the third quarter valued at $683,000. 59.00% of the stock is owned by institutional investors and hedge funds.

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.