Fiverr price target raised to $50 from $40 at Needham

Needham raised the firm’s price target on Fiverr to $50 from $40 and keeps a Buy rating on the shares after its Q4 earnings beat. The company’s FY23 guidance also surprised to the upside, anticipating accelerating revenue growth throughout the year and delivering above-100% incremental margins while pulling forward Fiverr’s longer term targets, the analyst tells investors in a research note. The firm adds that there is potential for its estimates to be conservative on revenue and incremental margins.