Beyond (NYSE:BYON) PT Lowered to $25.00

Beyond (NYSE:BYON) had its target price dropped by analysts at Wedbush from $37.00 to $25.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price objective indicates a potential upside of 115.33% from the company’s current price. Wedbush also issued estimates for Beyond’s Q2 2024 earnings at ($0.91) EPS and FY2024 earnings at ($2.84) EPS.

Several other research firms also recently commented on BYON. Barclays decreased their price objective on Beyond from $22.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, July 26th. Piper Sandler decreased their price target on Beyond from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Beyond in a report on Monday, May 20th. Maxim Group decreased their price target on Beyond from $50.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Finally, Bank of America cut their price objective on Beyond from $15.50 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Beyond currently has a consensus rating of “Hold” and an average price target of $27.29.

Beyond Trading Down 5.3 %

Shares of Beyond stock traded down $0.65 during midday trading on Wednesday, reaching $11.61. The company had a trading volume of 2,964,799 shares, compared to its average volume of 1,784,821. The stock has a fifty day moving average price of $13.93 and a 200 day moving average price of $22.08. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.24 and a quick ratio of 1.19. The firm has a market cap of $531.16 million, a PE ratio of -1.42 and a beta of 3.70. Beyond has a fifty-two week low of $11.06 and a fifty-two week high of $39.27.

Beyond (NYSE:BYON) last issued its earnings results on Monday, July 29th. The company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.13. The business had revenue of $398.10 million during the quarter, compared to the consensus estimate of $381.74 million. Beyond had a negative return on equity of 44.66% and a negative net margin of 22.03%. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.02) earnings per share. On average, equities analysts anticipate that Beyond will post -3.3 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman Marcus Lemonis acquired 3,700 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was bought at an average price of $13.64 per share, with a total value of $50,468.00. Following the completion of the acquisition, the chairman now directly owns 197,593 shares of the company’s stock, valued at approximately $2,695,168.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Beyond news, Director Joseph J. Tabacco, Jr. purchased 12,400 shares of Beyond stock in a transaction dated Wednesday, May 8th. The shares were purchased at an average cost of $16.01 per share, for a total transaction of $198,524.00. Following the completion of the acquisition, the director now owns 97,458 shares in the company, valued at approximately $1,560,302.58. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Marcus Lemonis acquired 3,700 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average cost of $13.64 per share, for a total transaction of $50,468.00. Following the purchase, the chairman now owns 197,593 shares of the company’s stock, valued at $2,695,168.52. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 40,095 shares of company stock valued at $596,237. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Beyond

A number of institutional investors have recently modified their holdings of BYON. CWM LLC purchased a new position in shares of Beyond in the 2nd quarter valued at about $46,000. Public Employees Retirement System of Ohio purchased a new position in shares of Beyond in the 1st quarter valued at about $66,000. Lazard Asset Management LLC purchased a new position in shares of Beyond in the 1st quarter valued at about $70,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Beyond in the 1st quarter valued at about $71,000. Finally, Tobam acquired a new stake in Beyond in the 2nd quarter worth about $78,000. Hedge funds and other institutional investors own 76.30% of the company’s stock.

About Beyond

Beyond, Inc operates as an online retailer of furniture and home furnishings products in the United States and Canada. The company offers furniture, bedding and bath, patio and outdoor gear, area rugs, tabletop and cookware, décor, storage and organization, small appliances, home improvement, and other products under the Bed Bath & Beyond brand.