Fiverr International (NYSE:FVRR) to Repurchase $100.00 million in Stock

Fiverr International (NYSE:FVRR) announced that its board has authorized a stock repurchase plan on Tuesday, March 11th, RTT News reports. The company plans to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 10.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $35.00 target price on shares of Fiverr International in a research note on Thursday, February 20th. UBS Group upped 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. Scotiabank initiated coverage on Fiverr International in a research report on Wednesday. They set a “sector outperform” rating and a $31.00 target price on the stock. Citizens Jmp cut Fiverr International from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, JMP Securities downgraded Fiverr International from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.22.

Fiverr International Trading Down 4.5 %

FVRR stock opened at $25.42 on Friday. Fiverr International has a 1-year low of $18.83 and a 1-year high of $36.11. The company has a current ratio of 1.10, a quick ratio of 2.99 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $30.11 and its 200-day moving average is $28.80. The firm has a market cap of $911.01 million, a P/E ratio of 54.08 and a beta of 1.93.

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.