Why Fiverr International Stock Just Dropped
Fiverr International (NYSE: FVRR) just pulled its stock offering, and investors don't seem to like what that might imply. Meanwhile, the online marketplace for freelance services just won a stock upgrade on Wall Street, but one that comes with a surprisingly lower price target. At 3 p.m. EST on Thursday, Fiverr stock was down 7.3%.
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Fiverr investors got a couple of pieces of news today. The less significant one came this morning, when analysts at MKM Partners announced they are upgrading Fiverr shares from sell to neutral. Fiverr's business has seen employers spending more on ads to hire freelancers, and more freelancers are accepting the jobs offered.
Source Fool.com
