Bending Spoons (NASDAQ:BSP) Stock Price Crosses Below 50-Day Moving Average – Here’s What Happened

Bending Spoons S.p.A. (NASDAQ:BSP)’s stock price crossed below its 50-day moving average during trading on Wednesday. The stock has a 50-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 trading hands.

Analysts Set New Price Targets

A number of analysts recently commented on BSP shares. Bank of America dropped their target price on shares of Bending Spoons from $39.00 to $36.00 and set an “underperform” rating on the stock in a research report on Tuesday, September 29th. Mizuho set a $72.00 price objective on Bending Spoons in a research report on Tuesday, August 11th. JPMorgan Chase & Co. raised their target price on Bending Spoons from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, August 14th. UBS Group set a $36.00 price objective on shares of Bending Spoons in a research report on Tuesday, September 29th. Finally, Jefferies Financial Group assumed coverage on shares of Bending Spoons in a report on Sunday, July 26th. They set a “hold” rating and a $38.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $44.00.

Bending Spoons Trading Down 2.0%

The business’s fifty day simple moving average is $40.63. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market cap of $24.33 billion and a P/E ratio of 51.92.

Bending Spoons (NASDAQ:BSP) last issued its earnings results on Thursday, August 13th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.19. The business had revenue of $704.15 million during the quarter. The firm’s revenue was up 126.3% compared to the same quarter last year. Equities analysts expect that Bending Spoons S.p.A. will post 1.36 EPS for the current 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.