FVRR - Here's Why Fiverr Stock Jumped Higher Today
2024-01-19 12:59:47 ET
Shares of freelance marketplace Fiverr International (NYSE: FVRR) jumped higher on Friday after getting a vote of confidence from a prominent analyst. As of noon ET, Fiverr stock is up only about 5%, but it was up almost 11% earlier in the day.
Goldman Sachs analyst Eric Sheridan upgraded his outlook for Fiverr stock today, according to StreetInsider. The analyst believes the stock is a buy, and he gave it a price target of $43 per share, which represents approximately 66% upside from where it trades as of this writing.
Fiverr stock is down 22% over the last year because investors are worried about the potential harm to the business from generative artificial intelligence (AI) . The thought is that people will need fewer services from Fiverr's sellers because generative AI apps can do the work instead.
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Here's Why Fiverr Stock Jumped Higher Today