BuzzFeed Inc. [NASDAQ: BZFD] closed the trading session at $2.09 on 01/26/23. The day’s price range saw the stock hit a low of $1.21, while the highest price level was $2.88. The company report on December 7, 2022 that BuzzFeed, Inc. Reaffirms Fourth Quarter 2022 Financial Outlook for Revenue and Adjusted EBITDA Following Yesterday’s Cost Restructuring Announcement.
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BuzzFeed, Inc. (“BuzzFeed” or the “Company”) (Nasdaq: BZFD), a premier digital media company for the most diverse, most online, and most socially engaged generations the world has ever seen, today has reaffirmed its fourth quarter 2022 financial outlook following yesterday’s announcement of a cost restructuring plan.
“Yesterday we implemented a restructuring to enable BuzzFeed to weather ongoing macroeconomic headwinds and audience shifts. We have a long history of adapting and investing in strategies to best serve our audiences and business partners,” said Jonah Peretti, BuzzFeed Founder and CEO. “Successful execution against our plans will enable us to invest in areas that will drive growth and build a more robust creator business.”.
The stocks have a year to date performance of 203.07 percent and weekly performance of 127.17 percent. The stock has been moved at 11.17 percent over the last six months. The stock has performed 182.74 percent around the most recent 30 days and changed 6.63 percent over the most recent 3-months.
If compared to the average trading volume of 135.88K shares, BZFD reached to a volume of 197488701 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about BuzzFeed Inc. [BZFD]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BZFD shares is $2.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BZFD stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Cowen have made an estimate for BuzzFeed Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on November 22, 2022. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $4.50 to $2. The new note on the price target was released on August 11, 2022, representing the official price target for BuzzFeed Inc. stock. Previously, the target price had yet another raise to $5, while BofA Securities analysts kept a Neutral rating on BZFD stock.
The Average True Range (ATR) for BuzzFeed Inc. is set at 0.23, with the Price to Sales ratio for BZFD stock in the period of the last 12 months amounting to 0.63. The Price to Book ratio for the last quarter was 0.99, with the Price to Cash per share for the same quarter was set at 0.44.
BZFD stock trade performance evaluation
BuzzFeed Inc. [BZFD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 127.17. With this latest performance, BZFD shares gained by 182.74% in over the last four-week period, additionally plugging by 11.17% over the last 6 months – not to mention a drop of -45.85% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BZFD stock in for the last two-week period is set at 82.41, with the RSI for the last a single of trading hit 88.26, and the three-weeks RSI is set at 76.31 for BuzzFeed Inc. [BZFD]. The present Moving Average for the last 50 days of trading for this stock 1.0600, while it was recorded at 1.1600 for the last single week of trading, and 2.1000 for the last 200 days.
BuzzFeed Inc. [BZFD]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and BuzzFeed Inc. [BZFD] shares currently have an operating margin of -6.33 and a Gross Margin at +42.08. BuzzFeed Inc.’s Net Margin is presently recorded at +6.22.
Return on Equity for this stock inclined to 13.34, with Return on Assets sitting at 7.75.
BuzzFeed Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 1.70.
BuzzFeed Inc. [BZFD]: Insider Ownership positions
There are presently around $78 million, or 35.60% of BZFD stock, in the hands of institutional investors. The top three institutional holders of BZFD stocks are: NEA MANAGEMENT COMPANY, LLC with ownership of 15,333,892, which is approximately 0% of the company’s market cap and around 1.40% of the total institutional ownership; GENERAL ATLANTIC, L.P., holding 7,862,502 shares of the stock with an approximate value of $16.43 million in BZFD stocks shares; and SOFTBANK GROUP CORP, currently with $10.19 million in BZFD stock with ownership of nearly 0% of the company’s market capitalization.
Positions in BuzzFeed Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 15 institutional holders increased their position in BuzzFeed Inc. [NASDAQ:BZFD] by around 1,781,822 shares. Additionally, 12 investors decreased positions by around 374,456 shares, while 21 investors held positions by with 35,208,056 shares. The mentioned changes placed institutional holdings at 37,364,334 shares, according to the latest SEC report filing. BZFD stock had 5 new institutional investments in for a total of 78,149 shares, while 7 institutional investors sold positions of 134,231 shares during the same period.