Fiverr International Ltd. (NYSE: FVRR) experienced a notable surge of 5.26% in its stock, reaching $26.00 by the conclusion of Friday’s trading session. This upward momentum was propelled by a significant development—an upgrade from analyst firm Goldman.
The firm upgraded its recommendation for Fiverr stock, shifting it from “Neutral” to a more optimistic “Buy,” while maintaining a steadfast price target of $43. This positive assessment by Goldman infused a fresh wave of confidence among investors, contributing to the stock’s ascent on the US charts.
In a strategic move to foster diversity and inclusion, Fiverr (FVRR) recently unveiled the list of twelve founders chosen to participate in its third annual Future Collective Business Accelerator Program. Tailored for early-stage Black entrepreneurs in the U.S. and Canada facing pivotal moments in their business journey, the Future Collective offers a comprehensive package comprising funding, coaching, and tools essential for scaling and growing their ventures.
This initiative is conducted in collaboration with 1863 Ventures, a Black-led nonprofit organization dedicated to assisting underrepresented entrepreneurs in transitioning from high potential to high growth. Despite progress made by Black founders in the business landscape, significant challenges persist.
A 2023 study by Goldman Sachs revealed that 37% of Black business owners encounter difficulties in accessing new capital and financing, a staggering 14 percentage points higher than their non-Black counterparts. Fiverr’s commitment to fostering equity led to the creation of the Future Collective program, aiming to level the playing field for entrepreneurs confronted by systemic structures, cultural barriers, or life circumstances hindering their progress.
The Future Collective fellows will benefit from Fiverr’s support in the form of a combination of credits and cash grants, coupled with a series of six live workshops conducted by 1863 Ventures and supplemented by Fiverr sessions. Over a span of six months, participants will also receive personalized 1:1 coaching and gain access to additional business resources and networking opportunities, thereby fortifying their foundation for future success.
