Fiverr International (NYSE:FVRR - Get Free Report) announced that its board has initiated a stock repurchase plan on Tuesday, March 11th, RTT News reports. The company plans to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 10.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.
Fiverr International Stock Up 6.6 %
Shares of NYSE FVRR traded up $1.63 during trading hours on Tuesday, hitting $26.39. 924,396 shares of the stock were exchanged, compared to its average volume of 781,836. The company has a quick ratio of 2.99, a current ratio of 1.10 and a debt-to-equity ratio of 0.06. The company has a market cap of $946.03 million, a PE ratio of 56.16 and a beta of 1.93. The firm has a fifty day moving average price of $30.35 and a 200-day moving average price of $28.84. Fiverr International has a 12 month low of $18.83 and a 12 month high of $36.11.
Wall Street Analysts Forecast Growth
FVRR has been the subject of several research reports. Needham & Company LLC reissued a "buy" rating and issued a $36.00 price objective on shares of Fiverr International in a research report on Wednesday, February 19th. UBS Group boosted their price objective on shares of Fiverr International from $31.00 to $32.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reissued a "sector perform" rating and issued a $35.00 price objective on shares of Fiverr International in a research report on Thursday, February 20th. JMP Securities lowered shares of Fiverr International from an "outperform" rating to a "market perform" rating in a report on Thursday, February 20th. Finally, Citizens Jmp lowered shares of Fiverr International from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Fiverr International presently has an average rating of "Hold" and a consensus price target of $34.63.
Get Our Latest Analysis on FVRR
About Fiverr International
(
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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.
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