Needham & Company LLC Reiterates Hold Rating for Beyond (NYSE:BYON)

Needham & Company LLC reiterated their hold rating on shares of Beyond (NYSE:BYON) in a research report sent to investors on Tuesday morning,Benzinga reports.

A number of other research firms have also recently weighed in on BYON. Wedbush increased their price objective on shares of Beyond from $10.00 to $13.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. Jefferies Financial Group decreased their target price on shares of Beyond from $6.50 to $5.00 and set a “hold” rating for the company in a research report on Tuesday, April 29th. Finally, Barclays cut their price target on Beyond from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.86.

Beyond Trading Down 2.4%

Shares of NYSE BYON opened at $8.91 on Tuesday. Beyond has a 12-month low of $3.54 and a 12-month high of $12.32. The company has a market cap of $511.35 million, a price-to-earnings ratio of -2.19 and a beta of 3.25. The stock’s 50 day simple moving average is $7.47 and its 200 day simple moving average is $6.40.

Beyond (NYSE:BYON) last issued its earnings results on Monday, July 28th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.15. Beyond had a negative return on equity of 78.27% and a negative net margin of 17.86%. The firm had revenue of $282.25 million for the quarter, compared to analyst estimates of $250.37 million. During the same period last year, the company earned ($0.76) earnings per share. The firm’s revenue for the quarter was down 29.1% on a year-over-year basis. As a group, equities analysts forecast that Beyond will post -3.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Beyond

Several large investors have recently bought and sold shares of BYON. Nisa Investment Advisors LLC boosted its stake in Beyond by 85.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,629 shares of the company’s stock valued at $25,000 after purchasing an additional 1,669 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Beyond by 33.1% in the second quarter. Caitong International Asset Management Co. Ltd now owns 7,359 shares of the company’s stock valued at $51,000 after buying an additional 1,828 shares during the period. WMG Financial Advisors LLC boosted its stake in Beyond by 189.2% during the second quarter. WMG Financial Advisors LLC now owns 53,350 shares of the company’s stock valued at $367,000 after buying an additional 34,900 shares in the last quarter. Parkside Investments LLC boosted its stake in Beyond by 33.3% during the second quarter. Parkside Investments LLC now owns 80,000 shares of the company’s stock valued at $550,000 after buying an additional 20,000 shares in the last quarter. Finally, Strs Ohio acquired a new position in Beyond during the first quarter worth about $151,000. Institutional investors and hedge funds own 76.30% of the company’s stock.

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.