Beyond (NYSE:BYON) Shares Gap Down Following Analyst Downgrade

Shares of Beyond, Inc. (NYSE:BYON) gapped down prior to trading on Thursday after Piper Sandler lowered their price target on the stock from $27.00 to $26.00. The stock had previously closed at $23.86, but opened at $23.28. Piper Sandler currently has a neutral rating on the stock. Beyond shares last traded at $23.44, with a volume of 106,047 shares.

Several other analysts have also recently commented on BYON. Compass Point initiated coverage on shares of Beyond in a research note on Thursday, February 1st. They issued a “buy” rating and a $45.00 price target on the stock. Barclays upped their target price on shares of Beyond from $24.00 to $30.00 and gave the company an “equal weight” rating in a research report on Thursday, February 22nd. Needham & Company LLC restated a “buy” rating and set a $40.00 target price on shares of Beyond in a research report on Friday, April 12th. Wedbush restated an “outperform” rating and set a $35.00 target price (up from $33.00) on shares of Beyond in a research report on Wednesday, February 21st. Finally, Maxim Group assumed coverage on shares of Beyond in a research report on Wednesday. They set a “buy” rating and a $50.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Beyond Trading Down 1.0 %

The company has a quick ratio of 1.45, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $1.04 billion, a P/E ratio of -3.35 and a beta of 3.76. The business has a 50-day moving average price of $30.88.

Beyond (NYSE:BYON) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.51). Beyond had a negative return on equity of 16.92% and a negative net margin of 19.72%. The firm had revenue of $384.46 million during the quarter, compared to analysts’ expectations of $343.10 million. On average, equities research analysts forecast that Beyond, Inc. will post -1.59 EPS for the current fiscal year.

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.