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

Beyond, Inc. (NYSE:BYON)’s stock price gapped down before the market opened 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 traded.

Several other equities research analysts have also recently weighed in on the stock. Maxim Group assumed coverage on shares of Beyond in a research report on Wednesday. They set a “buy” rating and a $50.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price objective on shares of Beyond in a research note 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 note on Wednesday, February 21st. Compass Point started coverage on Beyond in a report on Thursday, February 1st. They issued a “buy” rating and a $45.00 target price on the stock. Finally, Barclays boosted their price target on Beyond from $24.00 to $30.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Beyond currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

Beyond Price Performance

The company has a market cap of $1.10 billion, a P/E ratio of -3.44 and a beta of 3.76. 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 firm has a fifty day simple moving average of $30.93.

Beyond (NYSE:BYON) last issued 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). The firm had revenue of $384.46 million for the quarter, compared to the consensus estimate of $343.10 million. Beyond had a negative return on equity of 16.92% and a negative net margin of 19.72%. On average, research analysts predict that Beyond, Inc. will post -1.59 earnings per share for the current 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.