On August 13, Bending Spoons S.p.A. fell 11.43% in regular trading, trading at $43.242/share, with turnover of $7.86 million. The decline was triggered by a below-consensus full-year revenue guidance issued alongside its Q2 earnings report, compounded by a recent investment bank downgrade.

The company reported Q2 adjusted earnings of $0.46 per diluted share, up 170.6% year-over-year and significantly beating the analyst consensus estimate of $0.30. Quarterly revenue reached $704.2 million, a 126.4% increase from $311.1 million a year earlier, also surpassing the $682.8 million estimate. However, the company guided full-year revenue to $2.78 billion-$2.82 billion, approximately 3%-4% below the FactSet consensus of $2.90 billion.

Adding to the selling pressure, Bank of America Global Research downgraded the stock from Neutral to Underperform on August 12, setting a $39 target price — well below the prevailing share price. Since its IPO at $29 per share in early July, the stock had appreciated substantially, and the combination of elevated valuation, guidance shortfall, and the bearish analyst call served as catalysts for the pullback.

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