Craig Hallum Lowers BuzzFeed (NASDAQ:BZFD) Price Target to $6.00

BuzzFeed (NASDAQ:BZFDGet Rating) had its price objective dropped by Craig Hallum to $6.00 in a report issued on Tuesday, Stock Target Advisor reports. The firm presently has a “na” rating on the stock. Craig Hallum’s target price would suggest a potential upside of 86.34% from the company’s current price.

Other equities analysts have also issued reports about the company. Bank of America started coverage on BuzzFeed in a report on Friday, February 4th. They issued a “neutral” rating and a $5.00 target price for the company. Zacks Investment Research raised BuzzFeed from a “sell” rating to a “hold” rating in a report on Tuesday, May 10th. Cowen reduced their target price on BuzzFeed to $5.00 and set a “na” rating for the company in a report on Tuesday. Finally, Cowen reduced their price objective on BuzzFeed from $6.00 to $5.00 in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $5.25.

BZFD traded down $0.47 during midday trading on Tuesday, reaching $3.22. 5,206 shares of the company were exchanged, compared to its average volume of 125,478. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.67 and a current ratio of 2.67. The stock has a fifty day moving average of $4.84. BuzzFeed has a one year low of $3.61 and a one year high of $14.77.

A number of institutional investors have recently made changes to their positions in the stock. Citigroup Inc. bought a new stake in BuzzFeed in the 1st quarter valued at about $31,000. Penserra Capital Management LLC bought a new stake in BuzzFeed in the 4th quarter valued at about $33,000. Bank of America Corp DE bought a new stake in BuzzFeed in the 4th quarter valued at about $47,000. Royal Bank of Canada raised its stake in 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 acquiring an additional 11,602 shares during the period. Finally, Buckingham Strategic Wealth LLC bought a new stake in BuzzFeed in the 4th quarter valued at about $68,000. Institutional investors and hedge funds 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.

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