Fiverr's AI-Powered Transformation Has Potential Despite Soft Macro Environment: Analysts
Portfolio Pulse from Anusuya Lahiri
Analysts from Needham, JMP Securities, and Roth MKM have given their views on Fiverr International Ltd (FVRR) following its better-than-expected 2Q earnings. Needham reiterated a Buy rating with a $40 price target, citing Fiverr's AI-powered transformation and potential for growth. JMP Securities maintained a Buy rating with a $50 price target, highlighting the potential of Fiverr's AI-powered chatbot, Neo. Roth MKM reiterated a Neutral rating and raised the price target from $30 to $33, but suggested that Upwork Inc (UPWK) may offer more growth potential.
August 04, 2023 | 7:09 pm
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POSITIVE IMPACT
Fiverr's better-than-expected 2Q earnings and AI-powered transformation have led to positive ratings from Needham and JMP Securities. The launch of its AI-powered chatbot, Neo, is expected to drive customer LTVs higher.
Fiverr's strong 2Q earnings and the launch of its AI-powered chatbot, Neo, have been positively received by analysts. This could lead to increased investor confidence and a potential rise in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Roth MKM analyst suggested that Upwork Inc (UPWK) may offer more growth potential than Fiverr, despite not being the main focus of the article.
The mention of Upwork as a potential growth stock by a Roth MKM analyst could lead to increased investor interest. However, as it was not the main focus of the article, the impact may be limited.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50