Fiverr downgraded to Neutral from Buy at Citi

Citi downgraded Fiverr (FVRR) to Neutral from Buy with a price target of $15, down from $33. The company’s 2026 transformation plan is the right thing to do over the long-term, but it creates more limited visibility over the next 12-18 months as it accelerates the mix-shift to high-value and complex projects, the analyst tells investors in a research note. Shares have significant valuation support given Fiverr’s strong balance sheet, but the risk-reward is balanced at current levels, the firm added.