Fiverr International Ltd. (FVRR) PT Lowered to $40 at Needham & Company

Needham & Company analyst Bernie McTernan lowered the price target on Fiverr International Ltd. (NYSE: FVRR) to $40.00 (from $100.00) while maintaining a Buy rating following earnings.

The analyst commented, "We reiterate our Buy rating on FVRR but lower our target to $40 on a lower target multiple and lower estimates following the lower FY'22E guidance driven by increased macro uncertainty impacting their primarily SMB customer base and continued product investments. We are encouraged with the progress and product enhancements the company is making the Fiverr Business, but at this point its too small to add greater stability to results."

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