COST STRUCTURE RESTRUCTURING - Co said results reflect actions to reduce unsustainable costs and realign expenses with business needs, per CEO Byron Allen
BUSINESS MODEL SHIFT - Co said it is transitioning from a traditional publishing model to a platform approach, aiming for operational flexibility and innovation, per President Jonah Peretti
Analyst coverage
The one available analyst rating on the shares is "hold"
The average consensus recommendation for the online services peer group is "buy"
Wall Street's median 12-month price target for BuzzFeed Inc is $1.00, about 15.3% below its August 3 closing price of $1.18
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