Fiverr price target lowered to $33 from $40 at Needham

Needham lowered the firm’s price target on Fiverr to $33 from $40 but keeps a Buy rating on the shares. The firm is reducing the company’s gross merchandise volume, GMV, estimates substantially on the lower than expected growth guidance for FY24, though it sees a path back to double-digit growth by FY26given a mix shift from Simple GMV gigs to more Complex GMV gigs with a macro recovering offering potential upside, the analyst tells investors in a research note.