Izea Worldwide (NASDAQ:IZEA) Share Price Passes Below 200 Day Moving Average - Here's What Happened

Key Points

• IZEA Worldwide’s stock fell below its 200-day moving average on Tuesday, trading as low as $3.55 and last changing hands at $3.60.
• Analyst sentiment remains weak: Zacks Research and Weiss Ratings both downgraded the stock, and MarketBeat says the overall consensus rating is “Sell.”
• The company recently reported quarterly EPS of -$0.04, beating expectations, but revenue of $6.57 million came in below analysts’ forecasts of $6.75 million.

Izea Worldwide, Inc. (NASDAQ:IZEA - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.83 and traded as low as $3.55. Izea Worldwide shares last traded at $3.60, with a volume of 11,224 shares.

Analysts Set New Price Targets

IZEA has been the topic of a number of recent research reports. Zacks Research downgraded shares of Izea Worldwide from a "hold" rating to a "strong sell" rating in a report on Friday, March 20th. Wall Street Zen upgraded shares of Izea Worldwide from a "sell" rating to a "hold" rating in a report on Tuesday, June 23rd. Finally, Weiss Ratings downgraded shares of Izea Worldwide from a "sell (d)" rating to a "sell (d-)" rating in a research report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, Izea Worldwide currently has a consensus rating of "Sell".

Izea Worldwide Price Performance

The firm has a market cap of $63.04 million, a price-to-earnings ratio of -119.96 and a beta of 1.23. The business has a 50-day moving average of $3.73 and a 200-day moving average of $3.83.

Izea Worldwide (NASDAQ:IZEA - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. The firm had revenue of $6.57 million during the quarter, compared to analysts' expectations of $6.75 million. Izea Worldwide had a negative return on equity of 1.20% and a negative net margin of 1.98%.

Institutional Investors Weigh In On Izea Worldwide

Several large investors have recently made changes to their positions in the stock. State Street Corp increased its stake in shares of Izea Worldwide by 10.4% during the 4th quarter. State Street Corp now owns 56,862 shares of the company's stock worth $249,000 after purchasing an additional 5,350 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Izea Worldwide by 17.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 62,312 shares of the company's stock valued at $273,000 after purchasing an additional 9,380 shares during the period. ARS Investment Partners LLC lifted its stake in Izea Worldwide by 9.6% in the 1st quarter. ARS Investment Partners LLC now owns 117,129 shares of the company's stock valued at $411,000 after purchasing an additional 10,288 shares during the last quarter. XTX Topco Ltd acquired a new stake in Izea Worldwide in the 4th quarter valued at about $56,000. Finally, Geode Capital Management LLC grew its holdings in Izea Worldwide by 10.5% during the fourth quarter. Geode Capital Management LLC now owns 139,410 shares of the company's stock worth $611,000 after purchasing an additional 13,281 shares during the period. Institutional investors and hedge funds own 15.56% of the company's stock.

About Izea Worldwide

IZEA Worldwide, Inc is a technology-driven marketing services company that operates a global digital marketplace connecting brands, agencies and media companies with content creators and influencers. The company's platform enables clients to plan, execute and measure content marketing and social media campaigns across blogs, social networks, video channels and other digital outlets. Through both self-service tools and managed service engagements, IZEA provides end-to-end solutions for influencer marketing, sponsored content creation and content distribution.

Key offerings include campaign management software, content licensing and rights management, influencer discovery and analytics, and performance reporting.

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