BSP

Bending Spoons S.p.A.

No convergence signal this quarter — shown because tracked funds have filed 13D/G on this stock.

Days to cover (short int.)

10.2d↑+3.8%

as of 2026-09-15

News Summary

Negative

BSP delivered exceptional Q2 2026 results with 126% revenue growth to $704M and 139% operating income growth, completing its Nasdaq IPO on July 1, 2026 and acquiring Tractive for $759M to expand its subscription services portfolio. However, BofA Securities downgraded the stock citing a valuation disconnect—the market appears to price in ~$18B of future M&A while the company may only have ~$7B of additional debt capacity by end-2027, raising concerns about growth sustainability at current valuations.

Red flags

•BofA analyst estimates only $7B additional debt capacity by end-2027 versus ~$18B of M&A assumed in current share price
•Price target lowered 7.69% from $39.00 to $36.00 with 'Underperform' rating maintained
•Heavy reliance on acquisitions (Tractive $759M, Eventbrite acquisition pursued) to drive growth amid elevated leverage
•Company immediately tapped capital markets for $1.645B in debt add-ons in September 2026, suggesting rapid capital deployment needs
•Pre-existing Eventbrite litigation regarding $500M acquisition remains unresolved with founder opposition

Fund 13D/13G Filings (1)

Tracked funds' beneficial-ownership filings on this stock — disclosed within days of a position change, fresher than the quarterly 13F. Since Filing compares the stock to SPY from the filing date (shown for filings within the last 90 days).

Fund	Form	∆ Shares	% of Class	Since Filing	Filed	Src
Durable Capital Partners	SC 13G	NEW	7.3%	-9.7% vs SPY -6.4% abs	2026-07-09	↗