Bending Spoons (NASDAQ:BSP) Stock Sees Unusually High Put Option Buying

Key Points

• Unusually heavy put-option activity: Investors purchased 18,583 put options on Bending Spoons, roughly 1,076% above the average daily volume of 1,580 contracts.
• Mixed analyst outlook: Ratings range from Strong Buy to Sell, with a consensus “Hold” rating and an average price target of $44.00. Recent targets span $36 to $48.
• Shares surged but remain volatile: The stock rose $14.85 to $52.71, compared with a 52-day average of $39.51, while the company reported quarterly EPS of $0.46 versus a $0.27 estimate and 126.3% year-over-year revenue growth.

Bending Spoons S.p.A. (NASDAQ:BSP - Get Free Report) was the target of some unusual options trading on Wednesday. Stock investors purchased 18,583 put options on the stock. This is an increase of approximately 1,076% compared to the average daily volume of 1,580 put options.

Wall Street Analyst Weigh In

Several research firms recently commented on BSP. The Goldman Sachs Group started coverage on Bending Spoons in a report on Monday, July 27th. They set a "buy" rating and a $43.00 target price on the stock. Wall Street Zen upgraded Bending Spoons to a "hold" rating in a research report on Sunday, July 12th. Wells Fargo & Company boosted their price target on Bending Spoons from $45.00 to $48.00 and gave the company an "overweight" rating in a report on Tuesday, September 1st. Sanford C. Bernstein reissued an "outperform" rating and issued a $47.00 price target on shares of Bending Spoons in a report on Friday, August 14th. Finally, Bank of America lowered their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $44.00.

Bending Spoons Stock Performance

NASDAQ BSP traded up $14.85 during mid-day trading on Wednesday, reaching $52.71. 10,753,559 shares of the stock were exchanged, compared to its average volume of 2,591,645. The stock has a market cap of $31.67 billion and a P/E ratio of 66.69. 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 business has a 50 day simple moving average of $39.51. Bending Spoons has a 1 year low of $30.11 and a 1 year high of $58.94.

Bending Spoons (NASDAQ:BSP - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.27 by $0.19. The firm had revenue of $704.15 million for the quarter. The company's revenue for the quarter was up 126.3% on a year-over-year basis. Equities analysts predict that Bending Spoons will post 1.36 earnings per share for the current fiscal year.

Bending Spoons Company Profile

Bending Spoons is a technology company headquartered in Milan, Italy, that develops, operates and acquires digital products. Its portfolio spans mobile applications, software platforms and online services used by consumers, creators, professionals and businesses.

The company's products have included Remini, an artificial-intelligence-powered photo and video enhancement application; Splice, a mobile video-editing platform; Evernote, a productivity and note-taking service; and Brightcove, a video-hosting and streaming technology provider.

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