Fiverr price target raised to $40 from $33 at RBC Capital

RBC Capital raised the firm’s price target on Fiverr to $40 from $33 and keeps a Sector Perform rating on the shares. The company’s Q4 earnings were "somewhat mixed", but its strong FY23 EBITDA guide up appeared well-received by investors, the analyst tells investors in a research note. The firm added that Fiverr’s FY23 estimates now look "somewhat de-risked", the company’s marketing expense discipline continues to improve, and ChatGPT may not be a headwind for the company after all.