Beyond Meat (NASDAQ:BYND) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Beyond Meat (NASDAQ:BYND) posted its quarterly earnings data on Wednesday. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.03, Briefing.com reports. The company had revenue of $81.01 million during the quarter, compared to analyst estimates of $80.13 million. During the same period in the prior year, the firm earned ($1.09) earnings per share. Beyond Meat’s revenue was up 7.6% compared to the same quarter last year. Beyond Meat updated its FY 2024 guidance to EPS.

Beyond Meat Stock Performance

Shares of NASDAQ BYND traded down $0.71 during trading on Thursday, reaching $5.87. The stock had a trading volume of 5,886,685 shares, compared to its average volume of 2,914,682. The company has a market cap of $381.77 million, a P/E ratio of -1.22 and a beta of 2.28. The business’s 50-day moving average price is $6.37 and its 200-day moving average price is $6.61. Beyond Meat has a fifty-two week low of $5.13 and a fifty-two week high of $12.12.

Analyst Ratings Changes

A number of research analysts recently commented on the company. BMO Capital Markets reduced their target price on Beyond Meat from $9.00 to $6.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Mizuho lowered their price objective on shares of Beyond Meat from $6.00 to $5.00 and set an “underperform” rating on the stock in a research note on Monday, August 26th. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $5.42.

Beyond Meat Company Profile

Beyond Meat, Inc, a plant-based meat company, develops, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across the platforms of beef, pork, and poultry. It sells its products through grocery, mass merchandiser, club stores, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.