Zacks Investment Research Upgrades BuzzFeed (NASDAQ:BZFD) to “Hold”

BuzzFeed (NASDAQ:BZFD – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “BuzzFeed Inc. is a tech-powered diversified media company. It produces articles, lists, quizzes, videos, and original series, lifestyle content. BuzzFeed Inc., formerly known as 890 5th Avenue Partners Inc., is based in NEW YORK. “

A number of other equities analysts have also commented on the stock. Craig Hallum reduced their target price on shares of BuzzFeed to $6.00 and set a “na” rating on the stock in a research report on Tuesday, May 17th. Cowen cut their price objective on shares of BuzzFeed to $5.00 and set a “na” rating on the stock in a report on Tuesday, May 17th. Finally, Cowen cut their price objective on shares of BuzzFeed from $6.00 to $5.00 in a report on Tuesday, May 17th. Two equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.25.

Shares of NASDAQ:BZFD traded down $1.53 during trading on Monday, reaching $2.23. 3,133,809 shares of the company were exchanged, compared to its average volume of 187,662. The business’s fifty day simple moving average is $4.61. BuzzFeed has a 12-month low of $2.22 and a 12-month high of $14.77. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.09 and a current ratio of 2.09.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. General Atlantic L.P. acquired a new stake in BuzzFeed in the fourth quarter valued at approximately $41,907,000. Softbank Group Corp acquired a new stake in shares of BuzzFeed during the fourth quarter worth $25,995,000. Vanguard Group Inc. lifted its stake in shares of BuzzFeed by 20.6% during the first quarter. Vanguard Group Inc. now owns 2,206,169 shares of the company’s stock worth $11,604,000 after buying an additional 376,830 shares during the period. BlackRock Inc. acquired a new stake in shares of BuzzFeed during the first quarter worth $1,636,000. Finally, Founder Collective GP LLC acquired a new stake in shares of BuzzFeed during the fourth quarter worth $1,148,000. Institutional investors own 69.29% of the company’s stock.

About BuzzFeed (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.

Further Reading

• Get a free copy of the StockNews.com research report on BuzzFeed (BZFD)
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