Bending Spoons (NASDAQ:BSP) Shares Down 5.6% – Here’s Why

Bending Spoons S.p.A. (NASDAQ:BSP)’s stock price dropped 5.6% during mid-day trading on Wednesday. The stock traded as low as $42.91 and last traded at $43.00. Approximately 825,934 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 2,798,866 shares. The stock had previously closed at $45.55.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BSP shares. Mizuho set a $72.00 price target on Bending Spoons in a report on Tuesday, August 11th. Wall Street Zen upgraded Bending Spoons to a “hold” rating in a report on Sunday, July 12th. Wells Fargo & Company lifted their price target on shares of Bending Spoons from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 1st. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of Bending Spoons in a research note on Friday, August 14th. Finally, Benchmark raised their price target on Bending Spoons from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Bending Spoons has an average rating of “Hold” and a consensus price target of $44.00.

Bending Spoons Stock Up 0.0%

The company’s fifty day moving average is $39.69. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 3.25. The firm has a market cap of $27.46 billion and a P/E ratio of 58.97.

Bending Spoons (NASDAQ:BSP) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.19. The business had revenue of $704.15 million for the quarter. Bending Spoons’s quarterly revenue was up 126.3% compared to the same quarter last year. Analysts anticipate that Bending Spoons S.p.A. will post 1.36 EPS for the current year.

Bending Spoons Company Profile

Bending Spoons is a technology company based in Milan, Italy, that develops, operates and acquires digital products. Its portfolio includes consumer and business software applications spanning mobile content creation, productivity, file sharing and other online services.

The company’s products and acquired businesses have included Remini, an artificial-intelligence-powered photo and video enhancement app; Splice, a mobile video-editing application; Evernote, a note-taking and productivity platform; and Meetup, a service that helps people find and build local communities.