JPMorgan upgrades Fiverr to Overweight on overdone selloff

JPMorgan upgraded Fiverr (FVRR) to Overweight from Neutral with a price target of $30, down from $32. The company reported solid Q2 results but the shares sold off 12% due to concerns around artificial intelligence disruption, the analyst tells investors in a research note. The firm sees some AI-related displacement in certain of Fiverr’s simple services, but is encouraged by the company’s strategic investment in AI driving growth in larger and more complex services. JPMorgan views the pullback as overdone and think’s Fiverr’s marketplace gross merchandise volume can return to growth.