Beyond (NYSE:BYON) Shares Gap Down Following Weak Earnings

Beyond, Inc. (NYSE:BYON)’s stock price gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $21.89, but opened at $17.77. Beyond shares last traded at $16.63, with a volume of 1,745,257 shares.

The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.30). The company had revenue of $382.28 million during the quarter, compared to analyst estimates of $389.36 million. Beyond had a negative net margin of 19.72% and a negative return on equity of 16.92%. Beyond’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.10) earnings per share.

Analyst Upgrades and Downgrades

BYON has been the topic of a number of analyst reports. Needham & Company LLC downgraded shares of Beyond from a “buy” rating to a “hold” rating in a research note on Wednesday. Compass Point started coverage on shares of Beyond in a research note on Thursday, February 1st. They issued a “buy” rating and a $45.00 price objective on the stock. Wedbush lowered their price objective on shares of Beyond from $43.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday. Piper Sandler reduced their target price on Beyond from $26.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Maxim Group lowered their price target on Beyond from $50.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.83.

Beyond Stock Down 1.2 %

The stock has a market capitalization of $746.54 million, a PE ratio of -2.40 and a beta of 3.92. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 1.45. The company’s 50 day moving average price is $29.37.

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.