Bending Spoons S.p.A. (NASDAQ:BSP) Stock Now Rated “Hold” by Wall Street Brokerages

Shares of Bending Spoons S.p.A. (NASDAQ:BSP) have been assigned an average recommendation of “Hold” from the twelve brokerages that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $44.00.

Several analysts have weighed in on the company. Mizuho set a $72.00 target price on Bending Spoons in a report on Tuesday, August 11th. BNP Paribas Exane started coverage on Bending Spoons in a research note on Monday, July 27th. They set an “outperform” rating and a $40.00 price target for the company. Sanford C. Bernstein restated an “outperform” rating and set a $47.00 target price on shares of Bending Spoons in a research report on Friday, August 14th. UBS Group set a $36.00 price target on shares of Bending Spoons in a report on Tuesday, September 29th. Finally, Weiss Ratings started coverage on shares of Bending Spoons in a research note on Friday, September 25th. They set a “sell (d+)” rating for the company.

Key Headlines Impacting Bending Spoons

Here are the key news stories impacting Bending Spoons this week:

• Positive Sentiment: Berkshire Hathaway’s $330 million investment provides Bending Spoons with additional capital to pursue acquisitions of underperforming software and digital-media businesses. Berkshire’s participation also serves as a high-profile endorsement of the company’s acquisition-and-turnaround strategy. Bending Spoons wants to revive software castoffs. Berkshire is backing the plan
• Positive Sentiment: The latest placement follows Berkshire’s roughly $600 million commitment at Bending Spoons’ initial public offering and would bring Berkshire’s ownership to about 4%. The repeated investment, including backing associated with Berkshire successor Greg Abel, has increased the company’s visibility among investors. Meet Warren Buffett Successor Greg Abel’s Newest Investment
• Positive Sentiment: Investors view the fresh funding as supportive of Bending Spoons’ plan to acquire struggling software companies, improve their operations and consolidate the sector. The Berkshire announcement was cited as the main catalyst behind the stock’s approximately 27% weekly advance. Why Bending Spoons Stock Soared 27% This Week
• Neutral Sentiment: Coverage has compared Bending Spoons with other technology companies and highlighted its recent 52-week high, but these reports provide limited new fundamental information. Bending Spoons and Its Rivals Financial Review
• Negative Sentiment: After the rapid advance, some traders are hedging or taking profits, increasing the risk of short-term pullbacks. Bending Spoons also carries elevated financial risk, including a debt-to-equity ratio of 3.25 and a valuation near 60 times earnings, leaving the stock sensitive to acquisition execution and expectations.

Bending Spoons Trading Down 15.6%

Shares of BSP traded down $8.70 during trading hours on Friday, reaching $47.07. The company had a trading volume of 5,772,544 shares, compared to its average volume of 4,229,370. The firm has a 50 day moving average of $39.97. 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 stock has a market capitalization of $28.28 billion and a P/E ratio of 60.35. Bending Spoons has a 12-month low of $30.11 and a 12-month high of $59.50.

Bending Spoons (NASDAQ:BSP) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.27 by $0.19. The company had revenue of $704.15 million during the quarter. The firm’s revenue was up 126.3% on a year-over-year basis. Sell-side analysts forecast that Bending Spoons will post 1.36 earnings per share for the current year.

About Bending Spoons

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.