Its Stock Has Paid Off Big Time For BuzzFeed Inc.

BuzzFeed Inc. (NASDAQ: BZFD) stock jumped 4.11% on Friday to $0.38 against a previous-day closing price of $0.37. With 0.38 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.58 million shares. During the session, the Internet Content & Information company that operates in wider Communication Services sector, reached to the highest price of $0.3800 whereas the lowest price it dropped to was $0.3508. The 52-week range on BZFD shows that it touched its highest point at $4.25 and its lowest point at $0.34 during that stretch. It currently has a 1-year price target of $1.38. Beta for the stock currently stands at 3.15.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BZFD was up-trending over the past week, with a rise of 2.93%, but this was down by -20.15% over a month. Three-month performance dropped to -40.44% while six-month performance fell -66.67%. The stock lost -76.54% in the past year, while it has lost -44.90% so far this year. A look at the trailing 12-month EPS for BZFD yields -1.40 with Next year EPS estimates of -0.21. For the next quarter, that number is -0.08. This implies an EPS growth rate of 66.20% for this year and 57.10% for next year.

Float and Shares Shorts:

At present, 141.95 million BZFD shares are outstanding with a float of 75.69 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.96 million, which was 1.37% higher than short shares on Jul 30, 2023. In addition to Mr. Jonah Peretti as the firm’s Founder, Chairman & CEO, Ms. Marcela Martin serves as its Pres.

Institutional Ownership:

Through their ownership of 39.92% of BZFD’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 37.77% of BZFD, in contrast to 2.50% held by mutual funds. Shares owned by individuals account for 1.01%. As the largest shareholder in BZFD with 1.98% of the stake, The Vanguard Group, Inc. holds 2,716,184 shares worth 2,716,184. A second-largest stockholder of BZFD, BlackRock Fund Advisors, holds 395,030 shares, controlling over 0.29% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in BZFD, holding 384,435 shares or 0.28% stake. With a 1.54% stake in BZFD, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,108,022 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.34% of BZFD stock, is the second-largest Mutual Fund holder. It holds 471,268 shares valued at 0.19 million. Bridgeway Ultra Small Company Mar holds 0.24% of the stake in BZFD, owning 332,000 shares worth 0.13 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, BZFD reported revenue of $106.76M and operating income of -$24.89M. The EBITDA in the recently reported quarter was -$19.71M and diluted EPS was -$0.17.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BZFD since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BZFD analysts setting a high price target of $1.25 and a low target of $1.25, the average target price over the next 12 months is $1.25. Based on these targets, BZFD could surge 228.95% to reach the target high and rise by 228.95% to reach the target low. Reaching the average price target will result in a growth of 228.95% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded BZFD stock several times over the past three months with 7 Buys and 6 Sells. In these transactions, 1,009,180 shares were bought while 358,880 shares were sold. The number of buy transactions has increased to 46 while that of sell transactions has risen to 23 over the past year. The total number of shares bought during that period was 3,480,818 while 8,139,104 shares were sold.

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