Bending Spoons (NASDAQ:BSP) Shares Cross Below 50 Day Moving Average – Time to Sell?

Bending Spoons S.p.A. (NASDAQ:BSP) passed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $40.63 and traded as low as $39.83. Bending Spoons shares last traded at $40.50, with a volume of 1,103,185 shares.

Analyst Upgrades and Downgrades

BSP has been the topic of a number of recent analyst reports. Bank of America decreased their price objective on Bending Spoons from $39.00 to $36.00 and set an “underperform” rating on the stock in a report on Tuesday, September 29th. UBS Group set a $36.00 price target on Bending Spoons in a research report on Tuesday, September 29th. Evercore assumed coverage on Bending Spoons in a research note on Monday, July 27th. They issued a “hold” rating and a $36.00 price objective for the company. Sanford C. Bernstein reiterated an “outperform” rating and issued a $47.00 price objective on shares of Bending Spoons in a report on Friday, August 14th. Finally, The Goldman Sachs Group began coverage on Bending Spoons in a research note on Monday, July 27th. They set a “buy” rating and a $43.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $44.00.

Bending Spoons Price Performance

The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 3.25. The firm has a market capitalization of $24.33 billion and a price-to-earnings ratio of 51.92. The company’s 50 day moving average is $40.63.

Bending Spoons (NASDAQ:BSP) last announced its earnings results on Thursday, August 13th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.19. The business had revenue of $704.15 million for the quarter. The company’s quarterly revenue was up 126.3% compared to the same quarter last year. Sell-side analysts expect that Bending Spoons S.p.A. will post 1.36 earnings per share for the current fiscal year.

Bending Spoons Company Profile

Bending Spoons is a technology company that develops and operates digital products, including mobile apps and online services. Its offerings span areas such as photo and video editing, productivity, fitness and social networking, with products including Remini, Splice, Evernote and Meetup. Founded in 2013 and headquartered in Milan, Italy, the company has grown through both product development and acquisitions. It serves users internationally through digital platforms and subscription-based services.