Beachbody (NASDAQ:BODI) Announces Earnings Results, Beats Expectations By $0.70 EPS

Beachbody (NASDAQ:BODI) posted its earnings results on Tuesday. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.70, FiscalAI reports. The company had revenue of $55.54 million during the quarter, compared to analysts’ expectations of $54.22 million. Beachbody had a negative net margin of 15.09% and a negative return on equity of 78.72%.

Beachbody Stock Performance

Shares of NASDAQ BODI traded up $0.14 during midday trading on Tuesday, reaching $8.33. The company had a trading volume of 23,133 shares, compared to its average volume of 38,480. Beachbody has a 1 year low of $3.38 and a 1 year high of $12.66. The business’s 50-day simple moving average is $9.63 and its 200 day simple moving average is $8.03. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 0.93. The stock has a market cap of $59.06 million, a P/E ratio of -1.34 and a beta of 1.15.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BODI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beachbody in a research report on Monday, December 29th. Zacks Research downgraded Beachbody from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Craig Hallum assumed coverage on Beachbody in a research report on Monday, March 2nd. They set a “buy” rating and a $15.00 target price on the stock. Wall Street Zen upgraded Beachbody to a “buy” rating in a research note on Saturday, December 27th. Finally, Canaccord Genuity Group raised their price target on Beachbody from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.33.

Hedge Funds Weigh In On Beachbody

Several hedge funds have recently made changes to their positions in BODI. Cruiser Capital Advisors LLC purchased a new stake in Beachbody in the 3rd quarter worth approximately $117,000. Geode Capital Management LLC increased its stake in shares of Beachbody by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 32,503 shares of the company’s stock worth $337,000 after purchasing an additional 1,125 shares in the last quarter. Renaissance Technologies LLC increased its stake in Beachbody by 54.0% during the 4th quarter. Renaissance Technologies LLC now owns 52,769 shares of the company’s stock worth $547,000 after buying an additional 18,505 shares in the last quarter. Jane Street Group LLC acquired a new position in Beachbody in the 4th quarter valued at $140,000. Finally, State Street Corp acquired a new stake in shares of Beachbody in the fourth quarter valued at about $166,000. 74.48% of the stock is owned by institutional investors and hedge funds.

Beachbody Company Profile

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.