Beyond (NYSE:BYON) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Beyond (NYSE:BYON) in a research report sent to investors on Monday, Benzinga reports.

Other research analysts have also recently issued research reports about the stock. Maxim Group lowered their target price on shares of Beyond from $50.00 to $36.00 and set a buy rating on the stock in a research note on Wednesday, May 8th. Barclays dropped their price objective on Beyond from $30.00 to $22.00 and set an equal weight rating for the company in a research note on Wednesday, May 8th. Piper Sandler decreased their target price on Beyond from $26.00 to $17.00 and set a neutral rating on the stock in a research note on Wednesday, May 8th. Compass Point initiated coverage on Beyond in a research note on Thursday, February 1st. They issued a buy rating and a $45.00 price target for the company. Finally, Wedbush reiterated an outperform rating and set a $37.00 price objective on shares of Beyond in a research report on Tuesday, May 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $32.83.

Beyond Trading Down 4.3 %

Shares of Beyond stock opened at $15.53 on Monday. Beyond has a 1-year low of $13.71 and a 1-year high of $39.27. The company’s fifty day simple moving average is $25.43 and its 200-day simple moving average is $24.89. 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 stock has a market capitalization of $710.34 million, a PE ratio of -1.91 and a beta of 3.92.

Beyond (NYSE:BYON) last released its 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 23.67% and a negative return on equity of 32.05%. Beyond’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.10) earnings per share. As a group, equities analysts anticipate that Beyond will post -2.99 earnings per share for the current year.

Insider Transactions at Beyond

In other Beyond news, Director Joseph J. Tabacco, Jr. purchased 12,400 shares of Beyond stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average price of $16.01 per share, for a total transaction of $198,524.00. Following the completion of the transaction, the director now owns 97,458 shares of the company’s stock, valued at approximately $1,560,302.58. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Beyond

Large investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC purchased a new stake in shares of Beyond in the first quarter valued at $33,599,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Beyond in the 1st quarter worth about $8,956,000. Shell Asset Management Co. bought a new stake in Beyond in the first quarter worth about $2,271,000. California State Teachers Retirement System purchased a new position in shares of Beyond during the first quarter valued at approximately $1,479,000. Finally, American International Group Inc. purchased a new position in shares of Beyond during the first quarter valued at approximately $799,000. 76.30% of the stock is owned by institutional investors.

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.