Goldman Sachs Reiterates Buy Rating on Fiverr International Ltd. (FVRR)
Goldman Sachs analyst Eric Sheridan reiterated a Buy rating and $41.00 price target on Fiverr International Ltd. (NYSE: FVRR)
The analyst comments "In its Q4'24 earnings report, Fiverr (FVRR) highlighted: 1) both Q4’24 and forward revenue commentary framed a positive set of results and outlook in terms of the company’s historical marketplace centric approach continuing to evolve toward a platform approach with the company’s recent Fiverr Go announcement (summarized herein) as a key secular growth anchor; 2) macroeconomic landscape continues to pressure Active Buyer growth into 2025 but any recovery in such activity levels would result in a more robust topline outcome and would allow the company to lean into growth investments; 3) positive commentary on the behavior of new buyer cohorts as a leading indicator for forward growth trajectory in a more normalized macro & 4) continued focus on forward investments in growth. Looking long-term, we remain bullish in our long-term view that the freelancer economy informs the potential for solid growth, margin expansion & FCF generation over time against what we see as undemanding valuation. We see FVRR building operating momentum as a two-sided marketplace business that is building out a broader platform with ample runway for growth on a normalized basis while generating healthy FCF in the years ahead that gives flexibility to invest against the opportunity or in capital returns. We reiterate our Buy rating and maintain our 12-month price target of $41."
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Shares of Fiverr International Ltd. closed at $30.23 yesterday.