Brokerages Set The Beachbody Company, Inc. (NASDAQ:BODI) Price Target at $13.50

The Beachbody Company, Inc. (NASDAQ:BODI) has been given an average recommendation of “Moderate Buy” by the five analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $13.50.

Several equities research analysts recently issued reports on the company. Craig Hallum assumed coverage on Beachbody in a research report on Monday, March 2nd. They set a “buy” rating and a $15.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Beachbody in a research report on Friday, March 27th. Wall Street Zen raised Beachbody from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 14th. Zacks Research raised Beachbody from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 16th. Finally, Canaccord Genuity Group upped their price target on Beachbody from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th.

Beachbody Stock Performance

Shares of BODI opened at $10.26 on Monday. The business’s 50 day moving average is $9.93 and its two-hundred day moving average is $8.86. Beachbody has a 52-week low of $3.38 and a 52-week high of $12.66. The firm has a market cap of $73.67 million, a price-to-earnings ratio of -21.83 and a beta of 0.85. The company has a quick ratio of 0.63, a current ratio of 0.74 and a debt-to-equity ratio of 0.72.

Institutional Investors Weigh In On Beachbody

Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC grew its stake in Beachbody by 54.0% during the 4th quarter. Renaissance Technologies LLC now owns 52,769 shares of the company’s stock worth $547,000 after buying an additional 18,505 shares during the last quarter. Geode Capital Management LLC grew its stake in Beachbody by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 32,503 shares of the company’s stock worth $337,000 after buying an additional 1,125 shares during the last quarter. Cruiser Capital Advisors LLC bought a new position in Beachbody during the 3rd quarter worth $117,000. State Street Corp bought a new position in Beachbody during the 4th quarter worth $166,000. Finally, Jane Street Group LLC bought a new position in Beachbody during the 4th quarter worth $140,000. 74.48% of the stock is owned by institutional investors and hedge funds.

Beachbody Company Profile

Beachbody is a consumer-oriented health and fitness company based in Santa Monica, California. Founded in 1998 by Carl Daikeler and Jon Congdon, the company originally gained prominence through at-home workout programs distributed on DVD. Over time, Beachbody has transitioned much of its content delivery to a subscription-based digital platform, offering on-demand streaming of exercise routines, meal plans and wellness coaching.

The company’s portfolio includes a range of branded fitness programs—such as P90X, Insanity, 21 Day Fix and Body Beast—alongside nutrition and supplement products marketed under the Beachbody Nutrition brand.