BuzzFeed (NASDAQ:BZFD) Price Target Cut to $5.00

BuzzFeed (NASDAQ:BZFD – Get Rating) had its price objective cut by investment analysts at Cowen to $5.00 in a note issued to investors on Tuesday, Stock Target Advisor reports. The brokerage presently has a “na” rating on the stock. Cowen’s target price points to a potential upside of 55.28% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Bank of America started coverage on shares of BuzzFeed in a research note on Friday, February 4th. They set a “neutral” rating and a $5.00 target price on the stock. Cowen dropped their price target on BuzzFeed from $6.00 to $5.00 in a research note on Tuesday. Finally, Zacks Investment Research upgraded BuzzFeed from a “sell” rating to a “hold” rating in a research note on Tuesday, May 10th. Two 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 has a consensus rating of “Hold” and an average price target of $5.25.

Shares of NASDAQ:BZFD traded down $0.47 during midday trading on Tuesday, hitting $3.22. The stock had a trading volume of 5,206 shares, compared to its average volume of 125,478. The stock has a 50-day moving average price of $4.84. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.38. BuzzFeed has a fifty-two week low of $3.61 and a fifty-two week high of $14.77.

Several hedge funds have recently bought and sold shares of BZFD. General Atlantic L.P. acquired a new position in BuzzFeed during the 4th quarter valued at about $41,907,000. Softbank Group Corp purchased a new position in shares of BuzzFeed in the 4th quarter worth approximately $25,995,000. Vanguard Group Inc. boosted its stake in shares of BuzzFeed by 20.6% in the 1st 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 last quarter. BlackRock Inc. purchased a new position in shares of BuzzFeed in the 1st quarter worth approximately $1,636,000. Finally, Founder Collective GP LLC purchased a new position in shares of BuzzFeed in the 4th quarter worth approximately $1,148,000. 69.29% of the stock is owned by hedge funds and other institutional investors.

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.

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