Citi analyst Ronald Josey has maintained their bullish stance on FVRR stock, giving a Buy rating on November 6.
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Ronald Josey has given his Buy rating due to a combination of factors that highlight Fiverr International’s strategic growth and market positioning. The company is experiencing a shift towards more complex and higher-value projects, particularly in the AI sector, which has led to significant growth in gross merchandise value (GMV). This shift is supported by investments in Dynamic Matching and Managed Services, which have shown impressive year-over-year growth.
Despite challenges such as a decline in active buyers and macroeconomic uncertainties, Fiverr’s focus on upmarket projects has resulted in increased spending per buyer. Additionally, the company’s AI-driven initiatives in the Programming & Tech vertical are contributing to revenue growth. Improved monetization strategies, such as the adoption of Seller Plus and expansion in Fiverr Ads, along with margin expansion due to cost savings, further bolster the positive outlook. These elements combined justify the Buy rating, with an expected share price return of over 51%.
In another report released on November 6, J.P. Morgan also reiterated a Buy rating on the stock with a $30.00 price target.