Beyond (NYSE:BYON) Shares Gap Down Following Analyst Downgrade

Beyond, Inc. (NYSE:BYON) shares gapped down before the market opened on Thursday after Piper Sandler lowered their price target on the stock from $27.00 to $26.00. The stock had previously closed at $23.86, but opened at $23.28. Piper Sandler currently has a neutral rating on the stock. Beyond shares last traded at $23.44, with a volume of 106,047 shares trading hands.

A number of other research analysts also recently commented on BYON. Barclays increased their price objective on shares of Beyond from $24.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Maxim Group assumed coverage on shares of Beyond in a research note on Wednesday. They set a “buy” rating and a $50.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price objective on shares of Beyond in a research note on Friday, April 12th. Compass Point assumed coverage on shares of Beyond in a research note on Thursday, February 1st. They set a “buy” rating and a $45.00 price objective on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $35.00 price objective (up from $33.00) on shares of Beyond in a research note on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Beyond Trading Down 1.0 %

The firm has a 50-day moving average price of $30.88. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 1.45. The firm has a market cap of $1.04 billion, a P/E ratio of -3.35 and a beta of 3.76.

Beyond (NYSE:BYON) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.51). Beyond had a negative return on equity of 16.92% and a negative net margin of 19.72%. The business had revenue of $384.46 million during the quarter, compared to the consensus estimate of $343.10 million. Sell-side analysts expect that Beyond, Inc. will post -1.59 earnings per share for the current fiscal year.

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.