Bending Spoons (NASDAQ:BSP) Shares Gap Up - Time to Buy?

Key Points

• Bending Spoons shares surged, opening at $50.29 versus a prior close of $37.86 and later trading near $51.64 on volume of nearly 4.9 million shares.
• Analyst sentiment is mixed: the stock carries an average “Hold” rating and a $44 consensus price target, although targets range from $36 to $72 and Benchmark recently upgraded its target to $50 with a “Buy” rating.
• The company reported strong quarterly results, with EPS of $0.46 beating estimates of $0.27 and revenue of $704.15 million, up 126.3% year over year; however, its valuation is elevated at a P/E ratio of 68.65 and its debt-to-equity ratio is 3.25.

Bending Spoons S.p.A. (NASDAQ:BSP - Get Free Report)'s stock price gapped up before the market opened on Wednesday. The stock had previously closed at $37.86, but opened at $50.29. Bending Spoons shares last traded at $51.6420, with a volume of 4,928,452 shares.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Evercore began coverage on shares of Bending Spoons in a research report on Monday, July 27th. They issued a "hold" rating and a $36.00 target price for the company. Benchmark lifted their price target on shares of Bending Spoons from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, August 14th. JPMorgan Chase & Co. boosted their price target on shares of Bending Spoons from $35.00 to $38.00 and gave the stock a "neutral" rating in a research report on Friday, August 14th. Mizuho set a $72.00 price objective on shares of Bending Spoons in a research note on Tuesday, August 11th. Finally, The Goldman Sachs Group began coverage on Bending Spoons in a report on Monday, July 27th. They issued a "buy" rating and a $43.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $44.00.

Bending Spoons Stock Performance

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 company's fifty day moving average is $39.51. The company has a market capitalization of $31.65 billion and a P/E ratio of 68.65.

Bending Spoons (NASDAQ:BSP - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.19. The firm had revenue of $704.15 million for the quarter. The business's quarterly revenue was up 126.3% compared to the same quarter last year. On average, analysts expect that Bending Spoons S.p.A. will post 1.36 EPS for the current fiscal year.

About Bending Spoons

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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