Fiverr International (NYSE:FVRR) Hits New 52-Week High Following Strong Earnings

Fiverr International Ltd. (NYSE:FVRR)’s stock price reached a new 52-week high on Wednesday following a stronger than expected earnings report. The stock traded as high as $32.11 and last traded at $31.91, with a volume of 318360 shares traded. The stock had previously closed at $25.07.

The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.09. The company had revenue of $99.63 million during the quarter, compared to analyst estimates of $96.37 million. Fiverr International had a return on equity of 6.97% and a net margin of 2.67%.

Analysts Set New Price Targets

FVRR has been the subject of several research analyst reports. Citigroup lifted their price objective on Fiverr International from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday. JMP Securities lifted their price objective on Fiverr International from $32.00 to $36.00 and gave the company a “market outperform” rating in a research note on Thursday. The Goldman Sachs Group dropped their price objective on Fiverr International from $44.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Roth Mkm restated a “buy” rating and set a $32.00 price target (up previously from $30.00) on shares of Fiverr International in a research report on Thursday, August 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $36.00 price target on shares of Fiverr International in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.60.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FVRR. ARK Investment Management LLC increased its holdings in shares of Fiverr International by 27.1% in the second quarter. ARK Investment Management LLC now owns 109,586 shares of the company’s stock worth $2,568,000 after buying an additional 23,335 shares during the period. Shaker Investments LLC OH purchased a new position in shares of Fiverr International in the third quarter worth about $552,000. Engine Capital Management LP increased its holdings in shares of Fiverr International by 2.7% in the second quarter. Engine Capital Management LP now owns 814,294 shares of the company’s stock worth $19,079,000 after buying an additional 21,144 shares during the period. Swedbank AB purchased a new position in shares of Fiverr International in the first quarter worth about $400,000. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Fiverr International by 21.5% in the first quarter. Janney Montgomery Scott LLC now owns 41,268 shares of the company’s stock worth $870,000 after buying an additional 7,307 shares during the period. Hedge funds and other institutional investors own 59.00% of the company’s stock.

Fiverr International Stock Performance

The company has a market cap of $1.13 billion, a PE ratio of 112.47 and a beta of 1.71. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 1.44. The business has a fifty day moving average of $24.54 and a 200-day moving average of $23.66.

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.