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FVRR - Fiverr International News Story

$169.7 11.7  7.4%

Last Trade - 14/05/21

Sector
Technology
Size
Large Cap
Market Cap £4.32bn
Enterprise Value £4.26bn
Revenue £158.7m
Position in Universe 1247th / 6846

BUZZ-Fiverr International: JPM upgrades on upbeat Q4 revenue, FY forecast

Thu 20th February, 2020 7:16am
** JP Morgan upgrades online marketplace for freelancers
Fiverr International Ltd  FVRR.N  to "overweight" from "neutral"
after company reported Q4 revenue on Wednesday, which beat
estimates
    ** Company also forecast Q1 revenue of $32 mln-$33 mln vs
est $29.9 mln, and FY 2020 revenue of $139 mln-$141 mln vs
est$135.7 mln  urn:newsml:reuters.com:*:nL8N2AJ3X5
    ** Brokerage says company's strong Q4 revenue growth was
driven by 4th consecutive quarter of acceleration in active
buyers growth and re-acceleration of spend per buyer growth
    ** JPM says company's strategy of moving upmarket, along
with improvement in paid marketing, is working well and is
optimistic around firm's product innovation
    ** Brokerage believes company's recent product launches
—Fiverr Studios, Team Accounts, VID program, & industry stores
—and ongoing product investments should help attract larger
customers & drive healthy top-line growth
    ** JPM raises PT by $9 to $37; Median PT $32.50 - Refinitiv
Eikon
    ** Seperately, Citigroup also raises PT to $35 from $29 and
Needham to $38 from $31
    ** Avg recommendation of 8 analysts covering the stock is
"buy"
    ** YTD stock up 27.6%

 (Reporting by Aniruddha Chakrabarty)
 ((aniruddha.c.thomsonreuters.com@reuters.net))
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