Fiverr downgraded to Neutral from Overweight at JPMorgan

JPMorgan downgraded Fiverr (FVRR) to Neutral from Overweight with a price target of $15, down from $30. The company’s Q1 and 2026 revenue and EBITDA outlooks came in significantly below consensus, the analyst tells investors in a research note. The firm says Fiverr pointed to ongoing uncertainty around both the macro backdrop and its transformation plan to focus on high-value work while intentionally deprioritizing incremental optimization of low-end transactions. JPMorgan expects accelerating declines in Fiverr’s active buyer growth of negative 15%, driven by the deprioritization of low-end transactions.