Needham & Company LLC Downgrades Beyond (NYSE:BYON) to Hold

Beyond (NYSE:BYON) was downgraded by investment analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a report released on Wednesday, MarketBeat Ratings reports. They presently have a $9.00 price objective on the stock. Needham & Company LLC’s target price points to a potential upside of 52.41% from the company’s current price.

A number of other research firms have also recently commented on BYON. Maxim Group dropped their target price on shares of Beyond from $26.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Wedbush reissued an “outperform” rating and issued a $15.00 price objective on shares of Beyond in a research note on Wednesday, February 5th. Barclays decreased their target price on shares of Beyond from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 9th. Finally, Argus cut Beyond from a “hold” rating to a “sell” rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.29.

Beyond Stock Performance

Shares of NYSE:BYON opened at $5.91 on Wednesday. Beyond has a 1 year low of $4.45 and a 1 year high of $37.10. The stock has a market capitalization of $313.82 million, a price-to-earnings ratio of -0.80 and a beta of 3.91. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 0.91. The company’s 50 day simple moving average is $6.96 and its 200 day simple moving average is $7.79.

Beyond (NYSE:BYON) last issued its earnings results on Monday, February 24th. The company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.17). Beyond had a negative net margin of 22.82% and a negative return on equity of 69.32%. The business had revenue of $303.15 million during the quarter, compared to analyst estimates of $337.96 million. As a group, research analysts predict that Beyond will post -3.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Beyond

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in Beyond by 34.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 389,694 shares of the company’s stock worth $3,928,000 after purchasing an additional 100,335 shares during the last quarter. Royce & Associates LP raised its position in shares of Beyond by 57.8% during the third quarter. Royce & Associates LP now owns 845,977 shares of the company’s stock worth $8,527,000 after acquiring an additional 309,810 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Beyond by 12.8% in the third quarter. Franklin Resources Inc. now owns 21,299 shares of the company’s stock worth $217,000 after acquiring an additional 2,411 shares during the period. Refined Wealth Management boosted its holdings in Beyond by 14.8% in the fourth quarter. Refined Wealth Management now owns 401,095 shares of the company’s stock valued at $1,977,000 after acquiring an additional 51,763 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Beyond by 14.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 98,621 shares of the company’s stock valued at $994,000 after purchasing an additional 12,794 shares during the period. Institutional investors and hedge funds own 76.30% of the company’s stock.

Beyond Company Profile

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.