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

Bending Spoons S.p.A. (NASDAQ:BSP) traded down 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 changed hands 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.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Bending Spoons in a research note on Monday, July 27th. They issued a “buy” rating and a $43.00 price objective for the company. Weiss Ratings started coverage on shares of Bending Spoons in a report on Friday, September 25th. They issued a “sell (d+)” rating on the stock. Bank of America reduced their target price on Bending Spoons from $39.00 to $36.00 and set an “underperform” rating on the stock in a research report on Tuesday, September 29th. UBS Group set a $36.00 price target on Bending Spoons in a research report on Tuesday, September 29th. Finally, Wells Fargo & Company upped their target price on shares of Bending Spoons from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently 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 company has a market cap of $26.29 billion and a P/E ratio of 56.11. The business’s 50-day moving average is $39.69.

Bending Spoons (NASDAQ:BSP) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.27 by $0.19. The firm had revenue of $704.15 million during the quarter. Bending Spoons’s revenue for the quarter was up 126.3% on a year-over-year basis. On average, analysts predict that Bending Spoons S.p.A. will post 1.36 EPS 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.