BuzzFeed (NASDAQ:BZFD) Stock Rating Lowered by Cowen

Cowen cut shares of BuzzFeed (NASDAQ:BZFDGet Rating) from an outperform rating to a market perform rating in a research report released on Monday morning, The Fly reports. They currently have $2.00 price target on the stock, down from their prior price target of $3.00.

Several other equities analysts have also weighed in on the stock. Bank of America lowered shares of BuzzFeed from a neutral rating to an underperform rating and reduced their target price for the company from $4.50 to $2.00 in a report on Thursday, August 11th. Cowen reduced their target price on shares of BuzzFeed to $3.00 in a report on Monday, August 15th.

BuzzFeed Stock Up 11.0 %

Shares of NASDAQ BZFD opened at $1.31 on Monday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $177.45 million, a PE ratio of -1.90 and a beta of 1.54. The firm has a fifty day moving average of $1.71 and a 200-day moving average of $2.05. BuzzFeed has a 52-week low of $1.12 and a 52-week high of $14.77.

Hedge Funds Weigh In On BuzzFeed

A number of institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. acquired a new position in BuzzFeed in the 1st quarter worth $31,000. State Street Corp raised its stake in shares of BuzzFeed by 14.7% in the 3rd quarter. State Street Corp now owns 88,423 shares of the company’s stock valued at $138,000 after purchasing an additional 11,300 shares in the last quarter. Royal Bank of Canada raised its stake in shares of BuzzFeed by 82,871.4% in the 1st quarter. Royal Bank of Canada now owns 11,616 shares of the company’s stock valued at $61,000 after purchasing an additional 11,602 shares in the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in shares of BuzzFeed in the 1st quarter valued at about $79,000. Finally, Bank of America Corp DE raised its stake in shares of BuzzFeed by 194.7% in the 1st quarter. Bank of America Corp DE now owns 25,993 shares of the company’s stock valued at $137,000 after purchasing an additional 17,173 shares in the last quarter. Institutional investors and hedge funds own 27.63% of the company’s stock.

BuzzFeed Company Profile

(Get Rating)

BuzzFeed, Inc, a digital media company, provides breaking news, original reporting, entertainment, and videos across the social web to its global audience. It provides BuzzFeed, a go-to authority for entertainment, pop culture, and Internet with articles, lists, quizzes, videos, and original series; BuzzFeed News, a newsroom for young audience; Tasty, a platform for shareable food content; HuffPost, media platform for news, politics, opinion, entertainment, features, and lifestyle content; and Complex Networks that offers culture content of music, food, style, entertainment, and sports.

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