Fiverr downgraded to Neutral from Buy at BTIG

BTIG downgraded Fiverr (FVRR) to Neutral from Buy without a price target The shares have rallied 35% in the last week but three recent developments have given BTIG “some pause,” the analyst tells investors in a research note. The firm sees a less optimistic outlook for a fiscal 2025 recovery in small business hiring, says recent artificial intelligence innovation “is hard to ignore as a future risk” for Fiverr, and that its freelancing tracking shows a slowdown following a mid-summer bump. BTIG believes Fiverr’s current valuation is fair given these three factors.