IZEA Worldwide (NASDAQ:IZEA) Raised to “Buy” at Zacks Investment Research

IZEA Worldwide (NASDAQ:IZEA – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The brokerage presently has a $1.00 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 6.27% from the company’s current price.

According to Zacks, “IZEA Worldwide Inc. develops software which connects creators with brands who compensate them to produce and distribute content. IZEA Worldwide Inc., formerly known as IZEA Inc., is headquartered in Winter Park, Florida. “

Shares of IZEA stock opened at $0.94 on Thursday. IZEA Worldwide has a 12 month low of $0.85 and a 12 month high of $3.20. The stock has a market capitalization of $58.51 million, a P/E ratio of -18.82 and a beta of 2.86. The firm’s 50 day moving average is $1.22 and its 200 day moving average is $1.39.

IZEA Worldwide (NASDAQ:IZEA – Get Rating) last posted its earnings results on Wednesday, March 30th. The company reported $0.01 earnings per share (EPS) for the quarter. IZEA Worldwide had a negative net margin of 10.96% and a negative return on equity of 4.81%. The business had revenue of $10.34 million for the quarter. During the same quarter in the prior year, the company earned ($0.02) earnings per share. On average, sell-side analysts anticipate that IZEA Worldwide will post 0.01 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Thompson Siegel & Walmsley LLC purchased a new stake in IZEA Worldwide in the 4th quarter worth approximately $76,000. Cannell & Co. purchased a new stake in IZEA Worldwide in the 4th quarter worth approximately $168,000. Geode Capital Management LLC lifted its stake in IZEA Worldwide by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 488,808 shares of the company’s stock worth $938,000 after purchasing an additional 17,297 shares in the last quarter. Renaissance Technologies LLC lifted its stake in IZEA Worldwide by 51.7% in the 4th quarter. Renaissance Technologies LLC now owns 560,583 shares of the company’s stock worth $751,000 after purchasing an additional 190,983 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of IZEA Worldwide by 1,018.2% in the 4th quarter. Millennium Management LLC now owns 334,880 shares of the company’s stock worth $449,000 after buying an additional 304,933 shares during the last quarter. Institutional investors and hedge funds own 14.30% of the company’s stock.

About IZEA Worldwide (Get Rating)

IZEA Worldwide, Inc, together with its subsidiaries, creates and operates online marketplaces that connect marketers and content creators. Its technology solutions enable the management of content workflow, creator search and targeting, bidding, analytics, and payment processing. The company uses its platform to manage influencer marketing campaigns on behalf of the company's marketers.

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