In a report released today, Ronald Josey from Citi maintained a Buy rating on Fiverr International (FVRR – Research Report), with a price target of $40.00.
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Ronald Josey has given his Buy rating due to a combination of factors influencing Fiverr International’s performance and potential. The company’s upmarket strategy is showing promising results, with Fiverr Pro securing multiple high-value contracts and an increase in spending per buyer. Additionally, the early success of Fiverr Go, particularly with its Personal Assistant feature, has demonstrated significant improvements in conversion rates, suggesting strong future demand and revenue growth.
Furthermore, Fiverr’s ability to expand its EBITDA margins despite investments in sales and marketing is noteworthy. The company’s strategic focus on high-quality buyers and the adoption of dynamic matching have contributed to a more stable demand environment. The increase in services lead take rates and the company’s ongoing $100 million buyback plan also support the positive outlook. These factors collectively justify Ronald Josey’s Buy rating and the raised target price for Fiverr International’s stock.
According to TipRanks, Josey is a top 100 analyst with an average return of 24.3% and a 60.87% success rate. Josey covers the Communication Services sector, focusing on stocks such as Alphabet Class A, Meta Platforms, and Zillow Group Class A.
In another report released yesterday, Roth MKM also maintained a Buy rating on the stock with a $35.00 price target.