Fiverr price target raised to $39 from $35 at Citi

Citi analyst Ronald Josey raised the firm’s price target on Fiverr (FVRR) to $39 from $35 and keeps a Buy rating on the shares after the company reported better-than-expected Q3 results and Q4 guidance, driven by a “somewhat stabilizing” macro environment in September and October, improving traction from its High Quality Buyers, and take rate expansion. Fiverr’s move upmarket and investments in newer tools are supporting its transition to a hiring platform from a marketplace, the analyst tells investors.