Bending Spoons (NASDAQ:BSP) Stock Falls 5.6% – What’s Next?

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on BSP. The Goldman Sachs Group assumed coverage on shares of Bending Spoons in a research report on Monday, July 27th. They issued a “buy” rating and a $43.00 target price on the stock. Weiss Ratings began coverage on shares of Bending Spoons in a report on Friday, September 25th. They set a “sell (d+)” rating for the company. Sanford C. Bernstein restated an “outperform” rating and issued a $47.00 price objective on shares of Bending Spoons in a report on Friday, August 14th. BNP Paribas Exane began coverage on Bending Spoons in a research report on Monday, July 27th. They issued an “outperform” rating and a $40.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Bending Spoons from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.00.

Bending Spoons Stock Down 3.9%

The firm has a fifty day moving average price of $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 stock has a market cap of $26.29 billion and a price-to-earnings ratio of 56.11.

Bending Spoons (NASDAQ:BSP) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.27 by $0.19. The company had revenue of $704.15 million for the quarter. The firm’s revenue for the quarter was up 126.3% on a year-over-year basis. As a group, sell-side analysts forecast that Bending Spoons S.p.A. will post 1.36 earnings per share for the current fiscal 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.