BuzzFeed (NASDAQ:BZFD) Stock Price Up 2% – Still a Buy?

Shares of BuzzFeed, Inc. (NASDAQ:BZFD) rose 2% during trading on Wednesday. The stock traded as high as $1.03 and last traded at $1.01. Approximately 73,035 shares changed hands during trading, a decline of 78% from the average daily volume of 339,135 shares. The stock had previously closed at $0.99.

Analysts Set New Price Targets

BZFD has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of BuzzFeed from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BuzzFeed in a report on Monday, August 17th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $1.00.

BuzzFeed Price Performance

The company has a market capitalization of $80.36 million, a price-to-earnings ratio of -0.63 and a beta of 3.88. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.51. The company has a 50 day simple moving average of $1.10 and a 200 day simple moving average of $1.18.

BuzzFeed (NASDAQ:BZFD) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.08). The firm had revenue of $36.29 million during the quarter, compared to analysts’ expectations of $43.11 million. BuzzFeed had a negative return on equity of 113.86% and a negative net margin of 35.83%.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in BuzzFeed stock. Renaissance Technologies LLC raised its holdings in shares of BuzzFeed, Inc. (NASDAQ:BZFD) by 2.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 344,354 shares of the company’s stock after buying an additional 8,700 shares during the period. Renaissance Technologies LLC owned about 0.91% of BuzzFeed worth $210,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 37.64% of the company’s stock.

About BuzzFeed

BuzzFeed, Inc is a digital media company that develops and distributes news, entertainment, lifestyle and culture content across websites, social media platforms, video services and other digital channels. Its content is published under brands including BuzzFeed and HuffPost, with coverage spanning current events, politics, pop culture, food, shopping and lifestyle topics.

The company generates revenue primarily through digital advertising, branded content, content licensing, commerce and other publisher-related activities.