Wedbush Lowers Beyond (NYSE:BYON) Price Target to $15.00

Beyond (NYSE:BYON) had its target price dropped by equities researchers at Wedbush from $25.00 to $15.00 in a report released on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s target price would indicate a potential upside of 135.48% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. Jefferies Financial Group reduced their target price on shares of Beyond from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. Piper Sandler cut their price objective on shares of Beyond from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Maxim Group decreased their target price on shares of Beyond from $33.00 to $26.00 and set a “buy” rating for the company in a research note on Friday. Bank of America cut Beyond from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $12.50 to $6.00 in a research report on Friday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $13.00 price objective on shares of Beyond in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $17.50.

Beyond Price Performance

BYON stock opened at $6.37 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.14 and a quick ratio of 1.08. Beyond has a 1 year low of $6.06 and a 1 year high of $37.10. The firm has a 50-day moving average of $10.14 and a 200 day moving average of $13.77. The company has a market cap of $291.43 million, a P/E ratio of -0.86 and a beta of 3.65.

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

Insiders Place Their Bets

In other news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the company’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 of the company’s stock, valued at $106,290.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the stock in a transaction that occurred on 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barclay F. Corbus bought 5,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was bought at an average cost of $10.66 per share, with a total value of $53,300.00. Following the transaction, the director now owns 66,668 shares in the company, valued at $710,680.88. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Beyond

Several institutional investors have recently made changes to their positions in the business. Tidal Investments LLC purchased a new stake in Beyond during the first quarter valued at approximately $33,599,000. Dimensional Fund Advisors LP bought a new position in Beyond in the 2nd quarter worth $9,538,000. Refined Wealth Management purchased a new position in Beyond during the second quarter valued at $4,201,000. ProShare Advisors LLC purchased a new stake in Beyond in the second quarter worth about $3,800,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Beyond in the first quarter worth about $8,956,000. 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.