Beyond (NYSE:BYON) Shares Gap Down Following Weak Earnings

Shares of Beyond, Inc. (NYSE:BYON) gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $21.89, but opened at $17.77. Beyond shares last traded at $16.63, with a volume of 1,745,257 shares trading hands.

The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.30). Beyond had a negative return on equity of 16.92% and a negative net margin of 19.72%. The business had revenue of $382.28 million for the quarter, compared to analysts’ expectations of $389.36 million. During the same period last year, the company posted ($0.10) earnings per share. The business’s quarterly revenue was up .3% on a year-over-year basis.

Wall Street Analyst Weigh In

Several brokerages have commented on BYON. Barclays boosted their target price on shares of Beyond from $24.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 22nd. Piper Sandler dropped their target price on shares of Beyond from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, April 18th. Wedbush reissued an “outperform” rating and set a $43.00 price target on shares of Beyond in a research note on Tuesday, April 30th. Compass Point initiated coverage on Beyond in a research note on Thursday, February 1st. They issued a “buy” rating and a $45.00 price objective for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $40.00 target price on shares of Beyond in a research report on Friday, April 12th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $39.00.

Beyond Trading Down 24.5 %

The stock has a market capitalization of $755.46 million, a P/E ratio of -2.43 and a beta of 3.92. The company has a quick ratio of 1.45, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average price of $29.37.

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.