BuzzFeed (NASDAQ:BZFD) Stock Price Up 2% - What's Next?

Key Points

• BuzzFeed shares rose 2% to about $1.01 in mid-day trading, though trading volume was 78% below the stock’s average daily volume.
• Analyst sentiment remains weak: the consensus rating is “Reduce”, with one Hold and one Sell rating and an average price target of $1.00.
• BuzzFeed’s latest quarterly results missed expectations, reporting a $0.22-per-share loss versus the expected $0.14 loss and revenue of $36.29 million versus estimates of $43.11 million.

BuzzFeed, Inc. (NASDAQ:BZFD - Get Free Report) shares rose 2% during mid-day trading on Wednesday. The stock traded as high as $1.03 and last traded at $1.01. 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.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BZFD shares. Wall Street Zen raised shares of BuzzFeed from a "strong sell" rating to a "sell" rating in a report on Saturday, August 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of BuzzFeed in a research note on Monday, August 17th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $1.00.

BuzzFeed Price Performance

The firm has a market capitalization of $84.17 million, a P/E ratio of -0.66 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 stock has a fifty day moving average of $1.10 and a 200-day moving average of $1.18.

BuzzFeed (NASDAQ:BZFD - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.08). The company had revenue of $36.29 million during the quarter, compared to analyst estimates of $43.11 million. BuzzFeed had a negative net margin of 35.83% and a negative return on equity of 113.86%.

Institutional Investors Weigh In On BuzzFeed

An institutional investor recently bought a new stake in BuzzFeed stock. Squarepoint Ops LLC acquired a new position in shares of BuzzFeed, Inc. (NASDAQ:BZFD - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 75,955 shares of the company's stock, valued at approximately $111,000. Squarepoint Ops LLC owned about 0.09% of BuzzFeed at the end of the most recent reporting period. 37.64% of the stock is currently owned by institutional investors.

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.

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