Beachbody (NASDAQ:BODI) Given New $12.00 Price Target at Canaccord Genuity Group

Beachbody (NASDAQ:BODI) had its price objective lowered by Canaccord Genuity Group from $16.00 to $12.00 in a research report released on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Roth Capital reiterated a “neutral” rating and issued a $9.00 price objective on shares of Beachbody in a report on Tuesday, August 11th. Weiss Ratings lowered Beachbody from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, October 6th. Finally, Wall Street Zen cut Beachbody from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Beachbody currently has an average rating of “Hold” and a consensus price target of $12.00.

Beachbody Price Performance

BODI opened at $3.34 on Wednesday. The company has a fifty day moving average price of $4.71 and a two-hundred day moving average price of $8.86. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.61 and a current ratio of 0.79. Beachbody has a 52 week low of $3.27 and a 52 week high of $16.87. The firm has a market capitalization of $24.33 million, a PE ratio of 2.23 and a beta of 0.96.

Beachbody (NASDAQ:BODI) last issued its earnings results on Monday, August 10th. The company reported $0.11 EPS for the quarter. Beachbody had a net margin of 5.95% and a return on equity of 32.72%. The company had revenue of $49.61 million during the quarter. As a group, analysts anticipate that Beachbody will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On Beachbody

Several hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position in shares of Beachbody by 94.9% during the first quarter. Renaissance Technologies LLC now owns 102,864 shares of the company’s stock worth $1,117,000 after purchasing an additional 50,095 shares in the last quarter. Citadel Advisors LLC grew its holdings 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 buying an additional 19,189 shares during the period. NewEdge Advisors LLC acquired a new position in shares of Beachbody in the 2nd quarter valued at $145,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Beachbody in the 1st quarter valued at $111,000. 74.48% of the stock is currently owned by institutional investors and hedge funds.

About Beachbody

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.