Needham lowered the firm’s price target on Fiverr (FVRR) to $32 from $36 and keeps a Buy rating on the shares after its Q2 results and guidance. The firm assumes a lower target multiple as the company continues to be a “show-me story”, with the bear narrative winning as GMV trends remain challenged, including the y/y declines getting worse this quarter, the analyst tells investors in a research note.
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