Beachbody (NASDAQ:BODI) Stock Gets Price Target Reduction from Canaccord Genuity Group

Beachbody (NASDAQ:BODI) had its price objective cut by Canaccord Genuity Group from $19.00 to $16.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued research reports about the stock. Weiss Ratings lowered shares of Beachbody from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, October 6th. Roth Capital restated a “neutral” rating and issued a $9.00 price target on shares of Beachbody in a research note on Tuesday, August 11th. Finally, Wall Street Zen lowered Beachbody from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $13.33.

Beachbody Stock Performance

Shares of Beachbody stock opened at $4.16 on Friday. The stock has a market cap of $30.28 million, a PE ratio of 2.55 and a beta of 0.96. Beachbody has a 12-month low of $4.01 and a 12-month high of $16.87. The company has a 50-day moving average of $5.00 and a two-hundred day moving average of $9.09. The company has a current ratio of 0.79, a quick ratio of 0.61 and a debt-to-equity ratio of 0.58.

Beachbody (NASDAQ:BODI) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.11 earnings per share for the quarter. Beachbody had a net margin of 5.68% and a return on equity of 44.34%. The business had revenue of $49.61 million during the quarter. On average, research analysts anticipate that Beachbody will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Beachbody

A number of institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its holdings in Beachbody by 94.9% in the 1st quarter. Renaissance Technologies LLC now owns 102,864 shares of the company’s stock valued at $1,117,000 after acquiring an additional 50,095 shares during the last quarter. Citadel Advisors LLC raised its position in Beachbody by 104.6% during the second quarter. Citadel Advisors LLC now owns 37,531 shares of the company’s stock valued at $384,000 after buying an additional 19,189 shares during the period. Evernest Financial Advisors LLC acquired a new stake in shares of Beachbody during the first quarter worth approximately $316,000. NewEdge Advisors LLC purchased a new stake in shares of Beachbody during the second quarter worth $145,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Beachbody during the 1st quarter valued at about $111,000. 74.48% of the stock is currently owned by institutional investors and hedge funds.

Beachbody Company Profile

Beachbody, operating under the BODi brand, is a digital fitness and wellness company that provides at-home workout programs, nutrition guidance and related products through online and mobile platforms. Its offerings are designed to support exercise, weight management and broader healthy-lifestyle goals.

The company’s portfolio has included on-demand workout content led by professional trainers, personalized fitness and nutrition programs, meal-planning resources, supplements and other wellness products.