Beachbody (NASDAQ:BODI) Given New $16.00 Price Target at Canaccord Genuity Group

Beachbody (NASDAQ:BODI) had its price target lowered by Canaccord Genuity Group from $19.00 to $16.00 in a report released on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the company. Weiss Ratings lowered Beachbody from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, October 6th. Wall Street Zen lowered Beachbody from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Roth Capital reissued a “neutral” rating and set a $9.00 target price on shares of Beachbody in a research note on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Beachbody currently has a consensus rating of “Hold” and an average price target of $13.33.

Beachbody Stock Performance

Shares of BODI stock opened at $4.16 on Friday. The firm has a 50 day moving average price of $5.00 and a two-hundred day moving average price of $9.09. The company has a market capitalization of $30.28 million, a PE ratio of 2.55 and a beta of 0.96. Beachbody has a 12-month low of $4.01 and a 12-month high of $16.87. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 0.58.

Beachbody (NASDAQ:BODI) last released its earnings results on Monday, August 10th. The company reported $0.11 earnings per share for the quarter. Beachbody had a return on equity of 44.34% and a net margin of 5.68%. The firm had revenue of $49.61 million during the quarter. As a group, analysts predict that Beachbody will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On Beachbody

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its holdings in Beachbody by 94.9% in the first quarter. Renaissance Technologies LLC now owns 102,864 shares of the company’s stock valued at $1,117,000 after acquiring an additional 50,095 shares during the last quarter. Citadel Advisors LLC boosted its stake in shares of Beachbody by 104.6% in the 2nd quarter. Citadel Advisors LLC now owns 37,531 shares of the company’s stock valued at $384,000 after purchasing an additional 19,189 shares during the last quarter. Evernest Financial Advisors LLC acquired a new stake in shares of Beachbody during the first quarter worth $316,000. NewEdge Advisors LLC bought a new position in Beachbody during the second quarter worth $145,000. Finally, Dimensional Fund Advisors LP bought a new position in Beachbody during the first quarter worth $111,000. Institutional investors and hedge funds own 74.48% of the company’s stock.

Beachbody Company Profile

Beachbody, operating under the BODi brand, is a digital fitness and wellness company that provides at-home workout programs, nutrition guidance and related products through online and mobile platforms. Its offerings are designed to support exercise, weight management and broader healthy-lifestyle goals.

The company’s portfolio has included on-demand workout content led by professional trainers, personalized fitness and nutrition programs, meal-planning resources, supplements and other wellness products.