Needham & Company LLC Reaffirms Buy Rating for Beyond (NYSE:BYON)

Beyond (NYSE:BYON)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued on Wednesday, Benzinga reports. They presently have a $13.00 target price on the stock. Needham & Company LLC’s target price points to a potential upside of 27.95% from the company’s current price.

BYON has been the subject of several other reports. Wedbush decreased their price objective on Beyond from $37.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Barclays decreased their price objective on Beyond from $22.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, July 26th. Jefferies Financial Group decreased their price objective on Beyond from $14.00 to $11.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Piper Sandler decreased their price objective on Beyond from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Finally, Bank of America decreased their price objective on Beyond from $15.50 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.88.

Beyond Stock Down 2.4 %

NYSE BYON opened at $10.16 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.14 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average of $10.30 and a two-hundred day moving average of $14.13. The firm has a market capitalization of $464.82 million, a price-to-earnings ratio of -1.36 and a beta of 3.65. Beyond has a 52 week low of $8.91 and a 52 week high of $37.10.

Beyond (NYSE:BYON) last issued its earnings results on Monday, July 29th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.13. The firm had revenue of $398.10 million during the quarter, compared to analyst estimates of $381.74 million. Beyond had a negative net margin of 22.03% and a negative return on equity of 49.00%. The business’s revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.02) earnings per share. On average, analysts predict that Beyond will post -3.55 earnings per share for the current year.

Insider Activity

In other news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $9.35, for a total transaction of $97,352.20. Following the transaction, the director now owns 11,368 shares in the company, valued at $106,290.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Barclay F. Corbus bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average price of $10.66 per share, for a total transaction of $53,300.00. Following the completion of the transaction, the director now directly owns 66,668 shares in the company, valued at approximately $710,680.88. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William Benjamin Nettles, Jr. sold 10,412 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $9.35, for a total value of $97,352.20. Following the completion of the sale, the director now owns 11,368 shares in the company, valued at approximately $106,290.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Beyond

Large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new stake in Beyond in the first quarter valued at approximately $66,000. DekaBank Deutsche Girozentrale purchased a new stake in Beyond in the 1st quarter worth approximately $71,000. Lazard Asset Management LLC purchased a new stake in Beyond in the 1st quarter worth approximately $70,000. Ashton Thomas Private Wealth LLC purchased a new stake in Beyond in the 2nd quarter worth approximately $44,000. Finally, Hollencrest Capital Management purchased a new stake in Beyond in the 2nd quarter worth approximately $46,000. Hedge funds and other institutional investors own 76.30% of the company’s stock.

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.