IZEA Worldwide (NASDAQ:IZEA) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of IZEA Worldwide (NASDAQ:IZEA) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

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 Worldwide stock opened at $1.27 on Wednesday. The company has a 50 day moving average of $1.60 and a 200-day moving average of $1.96. IZEA Worldwide has a 1-year low of $1.13 and a 1-year high of $7.45.

IZEA Worldwide (NASDAQ:IZEA) last issued its quarterly earnings results on Wednesday, November 10th. The company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.02. IZEA Worldwide had a negative net margin of 17.85% and a negative return on equity of 7.57%. The company had revenue of $7.61 million during the quarter. During the same period last year, the company posted ($0.03) EPS. On average, research analysts forecast that IZEA Worldwide will post -0.04 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the company. Deutsche Bank AG bought a new position in IZEA Worldwide in the 2nd quarter valued at approximately $251,000. BlackRock Inc. lifted its stake in IZEA Worldwide by 17.4% in the 2nd quarter. BlackRock Inc. now owns 984,295 shares of the company’s stock valued at $2,510,000 after purchasing an additional 146,034 shares during the last quarter. Ergoteles LLC bought a new position in IZEA Worldwide in the 2nd quarter valued at approximately $153,000. XTX Topco Ltd bought a new position in IZEA Worldwide in the 2nd quarter valued at approximately $89,000. Finally, Vanguard Group Inc. lifted its stake in IZEA Worldwide by 18.8% in the 2nd quarter. Vanguard Group Inc. now owns 2,687,768 shares of the company’s stock valued at $6,854,000 after purchasing an additional 425,760 shares during the last quarter. 12.31% of the stock is owned by institutional investors.

About IZEA Worldwide

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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