The stock of Fiverr International Ltd. (NYSE:FVRR) is now priced at $113.09 and the shares are -4.91 points down or -4.16% lower compared to its previous closing price of $118. The stock had 1.088 million contracts set over the past session. FVRR shares’ daily volume is compared to its average trading volume at 824382 shares. However, it has a float of 21.11 million and although its performance was 1.74% over the week, it’s one to watch. Analysts have given the FVRR stock a yearly average price target of $57 per share. It means the stock’s downside potential is -49.6% with the FVRR share price recently placing at $110.51 to $121.3. However, some brokerage firms have priced the stock below the average, including one that has called $116.
The shorts are running away from the Fiverr International Ltd. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the FVRR shares have declined. Short interest in the stock represents just 2.96% of its float, but the volume has dropped by 0.
In the last trading session, Fiverr International Ltd. (NYSE:FVRR) raised by $1.93 over the week and gained $27.75 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $126.33. The stock recorded its established 52-week high on 08/06/20.
Since 09/25/19, the stock has traded to a low of $17.11 at 560.96%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Fiverr International Ltd.’s two-week RSI is 59.51. This suggests that the stock is neutral at the moment and that FVRR shares’ price movement remains stable. The stochastic readings are equally revealing at 66.65% meaning the FVRR share price is currently in neutral territory.
The technical chart shows that the FVRR stock will likely settle at between $119.42 and $125.76 per share. However, if the stock dips below $108.63, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $104.18.
Currently, the stock is trading in the green of MACD, with a reading of 4.72. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Citigroup raised their recommendation for FVRR from Neutral to Buy in August 10 review while maintain their target price of $53 to $140. JP Morgan analysts downgraded their recommendation of the stock from Overweight to Neutral while keeping its target price at $77 in a flash note released to investors on July 17. Oppenheimer analysts see the stock as Outperform. Nonetheless, the analysts revised the share prices up on June 18, placing it at $74 from $55.
The average rating for the FVRR equity is 2 and is currently gathering a bullish momentum. Of 7 analysts tracking Fiverr International Ltd. polled by Reuters, 2 rated FVRR as a hold. The remaining 5 analysts were split evenly. However, the split wasn’t equal as a majority (5) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the FVRR stock price is 177.54X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 565.5 above the group’s average of 42.2. Fiverr International Ltd. has its P/E ratio at 14, which means that the stock is currently trading at a premium relative to the 5.9 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Fiverr International Ltd. (NYSE:FVRR) will decrease by about -99.9%, which will see them reach $48.82 million. The company’s full-year revenues are, however, expected to increase by about 67.82%, up from $107 million to $180 million. FVRR’s expected adjusted earnings should drop almost -166.67% to end up at $0.08 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -137.93% to record $0.22/share.