Ascendiant Capital Markets Has Lowered Expectations for Banzai International (NASDAQ:BNZI) Stock Price

Banzai International (NASDAQ:BNZI) had its price objective reduced by analysts at Ascendiant Capital Markets from $480.00 to $42.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Several other brokerages also recently weighed in on BNZI. Wall Street Zen downgraded shares of Banzai International from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Weiss Ratings raised shares of Banzai International from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $42.00.

Banzai International Stock Performance

NASDAQ:BNZI opened at $3.11 on Wednesday. Banzai International has a 1 year low of $2.90 and a 1 year high of $208.00. The stock has a market cap of $4.54 million, a P/E ratio of -0.03 and a beta of -1.02. The stock has a 50-day simple moving average of $8.31 and a 200-day simple moving average of $18.49.

Banzai International (NASDAQ:BNZI) last issued its earnings results on Friday, May 15th. The company reported ($11.69) earnings per share for the quarter, missing the consensus estimate of ($5.00) by ($6.69). The business had revenue of $2.70 million for the quarter, compared to analyst estimates of $2.90 million. Banzai International had a negative return on equity of 391.73% and a negative net margin of 237.54%. On average, equities research analysts predict that Banzai International will post -17.4 EPS for the current year.

Institutional Investors Weigh In On Banzai International

An institutional investor recently raised its position in Banzai International stock. Geode Capital Management LLC lifted its holdings in shares of Banzai International, Inc. (NASDAQ:BNZI) by 137.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,820 shares of the company’s stock after acquiring an additional 17,260 shares during the period. Geode Capital Management LLC owned 0.44% of Banzai International worth $29,000 at the end of the most recent reporting period. 96.82% of the stock is owned by institutional investors.

About Banzai International

Banzai International, Inc, a marketing technology company, provides data-driven marketing and sales solutions for various businesses in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its products include Demio, a browser-based webinar platform with data and marketing features designed to help businesses engage with their audience through live events and on-demand, interactive video content; Boost, a software-as-a-service (SaaS) solution for social sharing by event registrants; and Reach, a SaaS and managed service to increase registration and attendance of marketing events.