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

IZEA Worldwide (NASDAQ:IZEA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports. The firm presently has a $2.00 price target on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.73% 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. “

NASDAQ IZEA opened at $1.79 on Wednesday. The stock’s fifty day moving average price is $2.03 and its 200 day moving average price is $2.32. IZEA Worldwide has a 1 year low of $0.77 and a 1 year high of $7.45. The company has a market cap of $110.98 million, a price-to-earnings ratio of -22.38 and a beta of 2.66.

IZEA Worldwide (NASDAQ:IZEA) last released its earnings results on Wednesday, November 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. IZEA Worldwide had a negative return on equity of 7.57% and a negative net margin of 17.85%. During the same period in the prior year, the business posted ($0.03) EPS. As a group, sell-side analysts predict that IZEA Worldwide will post -0.04 earnings per share for the current year.

Large investors have recently bought and sold shares of the business. Barclays PLC purchased a new stake in IZEA Worldwide in the first quarter valued at $25,000. Two Sigma Securities LLC purchased a new stake in IZEA Worldwide in the third quarter valued at $33,000. Bank of New York Mellon Corp purchased a new stake in IZEA Worldwide in the first quarter valued at $80,000. XTX Topco Ltd purchased a new stake in IZEA Worldwide in the second quarter valued at $89,000. Finally, Squarepoint Ops LLC purchased a new stake in IZEA Worldwide in the second quarter valued at $90,000. 14.79% of the stock is currently owned by institutional investors.

IZEA Worldwide Company Profile

IZEA Worldwide, Inc engages in the creation and operation of online marketplaces that connect marketers with content creators under IZEAx platform. It automates influencer marketing and custom content development, which allows brands and agencies to scale their marketing programs. The company was founded by Edward Hans Murphy in February 2006 and is headquartered in Orlando, FL.

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