Beyond (NYSE:BYON) Downgraded to “Hold” at Needham & Company LLC

Needham & Company LLC cut shares of Beyond (NYSE:BYON) from a buy rating to a hold rating in a research report released on Wednesday morning, MarketBeat reports.

A number of other brokerages also recently weighed in on BYON. Barclays upped their price objective 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. Maxim Group began coverage on Beyond in a research report on Wednesday, April 17th. They set a buy rating and a $50.00 price target on the stock. Compass Point initiated coverage on Beyond in a report on Thursday, February 1st. They issued a buy rating and a $45.00 price objective on the stock. Wedbush reaffirmed an outperform rating and issued a $43.00 price target on shares of Beyond in a research note on Tuesday, April 30th. Finally, Piper Sandler reduced their target price on shares of Beyond from $27.00 to $26.00 and set a neutral rating for the company in a research report on Thursday, April 18th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Beyond currently has a consensus rating of Moderate Buy and an average price target of $32.83.

Beyond Stock Performance

Shares of BYON opened at $16.33 on Wednesday. The firm has a market cap of $746.54 million, a P/E ratio of -2.40 and a beta of 3.92. The stock’s 50-day moving average is $29.37. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 1.45. Beyond has a fifty-two week low of $13.71 and a fifty-two week high of $39.27.

Beyond (NYSE:BYON) last announced its quarterly earnings results on Monday, May 6th. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.30). The company had revenue of $382.28 million for the quarter, compared to analysts’ expectations of $389.36 million. Beyond had a negative net margin of 19.72% and a negative return on equity of 16.92%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.10) earnings per share. Analysts forecast that Beyond will post -1.85 EPS for the current 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.