Beachbody (NASDAQ:BODI) Price Target Raised to $12.00 at Canaccord Genuity Group

Beachbody (NASDAQ:BODI) had its price target increased by stock analysts at Canaccord Genuity Group from $9.00 to $12.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 48.70% from the company’s current price.

A number of other brokerages have also commented on BODI. Wall Street Zen upgraded shares of Beachbody to a “buy” rating in a report on Saturday, December 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beachbody in a research report on Monday, December 29th. Craig Hallum started coverage on Beachbody in a report on Monday, March 2nd. They set a “buy” rating and a $15.00 price target for the company. Finally, Zacks Research lowered Beachbody from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Beachbody currently has an average rating of “Hold” and an average price target of $11.33.

Beachbody Trading Down 1.5%

NASDAQ BODI traded down $0.12 during trading hours on Tuesday, reaching $8.07. The company’s stock had a trading volume of 11,710 shares, compared to its average volume of 38,240. The firm has a fifty day simple moving average of $9.63 and a 200-day simple moving average of $8.03. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.65 and a quick ratio of 0.53. Beachbody has a 52 week low of $3.38 and a 52 week high of $12.66. The stock has a market cap of $57.22 million, a P/E ratio of -1.30 and a beta of 1.15.

Institutional Investors Weigh In On Beachbody

Hedge funds have recently added to or reduced their stakes in the company. Bard Associates Inc. purchased a new stake in Beachbody in the 4th quarter valued at $32,000. Jane Street Group LLC purchased a new position in Beachbody during the 4th quarter worth $140,000. State Street Corp bought a new stake in shares of Beachbody in the 4th quarter worth $166,000. Cruiser Capital Advisors LLC purchased a new stake in shares of Beachbody in the third quarter valued at about $117,000. Finally, Geode Capital Management LLC raised its holdings in shares of Beachbody by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 32,503 shares of the company’s stock valued at $337,000 after purchasing an additional 1,125 shares during the last quarter. Institutional investors and hedge funds own 74.48% of the company’s stock.

About Beachbody

Beachbody is a consumer-oriented health and fitness company based in Santa Monica, California. Founded in 1998 by Carl Daikeler and Jon Congdon, the company originally gained prominence through at-home workout programs distributed on DVD. Over time, Beachbody has transitioned much of its content delivery to a subscription-based digital platform, offering on-demand streaming of exercise routines, meal plans and wellness coaching.

The company’s portfolio includes a range of branded fitness programs—such as P90X, Insanity, 21 Day Fix and Body Beast—alongside nutrition and supplement products marketed under the Beachbody Nutrition brand.