Bending Spoons (NASDAQ:BSP) Shares Cross Below Fifty Day Moving Average – Here’s Why

Bending Spoons S.p.A. (NASDAQ:BSP)’s share 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 changing hands.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Bank of America decreased their price objective on Bending Spoons from $39.00 to $36.00 and set an “underperform” rating for the company in a report on Tuesday, September 29th. Zacks Research raised Bending Spoons to a “hold” rating in a research report on Tuesday, July 28th. UBS Group set a $36.00 target price on Bending Spoons in a report on Tuesday, September 29th. BNP Paribas Exane assumed coverage on shares of Bending Spoons in a research report on Monday, July 27th. They issued an “outperform” rating and a $40.00 price target for the company. Finally, Benchmark boosted 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. One investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $44.00.

Bending Spoons Stock Up 0.9%

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 firm’s fifty day moving average is $40.61.

Bending Spoons (NASDAQ:BSP) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.19. The company had revenue of $704.15 million for the quarter. The firm’s quarterly revenue was up 126.3% on a year-over-year basis. On average, sell-side analysts forecast 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 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.