Here's Why Fiverr Stock Jumped Higher Today
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.
Source Fool.com
