Fiverr price target lowered to $18 from $31 at BTIG

BTIG lowered the firm’s price target on Fiverr (FVRR) to $18 from $31 and keeps a Buy rating on the shares. Fiverr delivered “mixed” Q4 results and “more importantly” guidance was well short of expectations, the analyst tells investors. While the firm acknowledges the “challenging environment” and the risk of Fiverr “being a value trap,” it sees valuation metrics as “typical of a highly distressed company as opposed to one with plenty of net cash and solid, albeit declining, free cash flow.”