Beyond (NYSE:BYON) PT Lowered to $26.00

Beyond (NYSE:BYON) had its target price cut by Maxim Group from $33.00 to $26.00 in a report published on Friday morning, Marketbeat.com reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also issued reports on the company. Bank of America lowered Beyond from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $12.50 to $6.00 in a research note on Friday. Piper Sandler dropped their price objective on shares of Beyond from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Jefferies Financial Group decreased their price target on Beyond from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Needham & Company LLC reissued a “buy” rating and issued a $13.00 price objective on shares of Beyond in a research note on Wednesday. Finally, Wedbush lowered their target price on shares of Beyond from $37.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.50.

Beyond Price Performance

NYSE BYON opened at $6.37 on Friday. Beyond has a one year low of $6.06 and a one year high of $37.10. The stock has a 50-day moving average of $10.23 and a 200 day moving average of $14.04. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.08 and a current ratio of 1.14. The company has a market capitalization of $291.43 million, a price-to-earnings ratio of -0.86 and a beta of 3.65.

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

Insider Buying and Selling at Beyond

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

Hedge Funds Weigh In On Beyond

Hedge funds have recently made changes to their positions in the company. Boston Partners purchased a new position in shares of Beyond during the 1st quarter worth $2,152,000. Rhumbline Advisers purchased a new stake in Beyond during the 2nd quarter worth approximately $1,001,000. ProShare Advisors LLC purchased a new position in Beyond in the second quarter valued at $3,800,000. Sanctuary Advisors LLC acquired a new position in shares of Beyond during the second quarter worth about $650,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in Beyond during the 1st quarter worth approximately $795,000. Institutional investors and hedge funds 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.