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

Beyond, Inc. (NYSE:BYON) 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.

A number of other research analysts have also recently commented on the company. Barclays upped their target price on Beyond from $24.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Compass Point assumed coverage on Beyond in a research note on Thursday, February 1st. They set a “buy” rating and a $45.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and set a $35.00 target price (up previously from $33.00) on shares of Beyond in a research note on Wednesday, February 21st. Maxim Group assumed coverage on Beyond in a research note on Wednesday. They set a “buy” rating and a $50.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of Beyond in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.67.

Beyond Trading Down 3.5 %

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.45 and a current ratio of 1.51. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -3.39 and a beta of 3.76. The stock’s 50-day simple moving average is $30.92.

Beyond (NYSE:BYON) last announced its earnings results on Tuesday, February 20th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.51). The company had revenue of $384.46 million for the quarter, compared to the consensus estimate of $343.10 million. Beyond had a negative net margin of 19.72% and a negative return on equity of 16.92%. Research analysts predict that Beyond, Inc. will post -1.59 earnings per share for the current fiscal 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.