Wedbush Trims Beyond (NYSE:BYON) Target Price to $25.00

Beyond (NYSE:BYON) had its price objective trimmed by Wedbush from $37.00 to $25.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the stock. Wedbush also issued estimates for Beyond’s Q2 2024 earnings at ($0.91) EPS, Q3 2024 earnings at ($0.80) EPS, Q4 2024 earnings at ($0.63) EPS, FY2024 earnings at ($3.41) EPS, FY2024 earnings at ($2.84) EPS, Q1 2025 earnings at ($0.69) EPS, Q2 2025 earnings at ($0.32) EPS, Q3 2025 earnings at ($0.46) EPS, Q4 2025 earnings at ($0.30) EPS, FY2025 earnings at ($1.76) EPS and FY2026 earnings at ($0.94) EPS.

Several other research firms have also recently issued reports on BYON. Piper Sandler cut their target price on Beyond from $17.00 to $14.00 and set a neutral rating for the company in a research report on Wednesday. Barclays cut their target price on Beyond from $22.00 to $16.00 and set an equal weight rating for the company in a research report on Friday, July 26th. Maxim Group dropped their price target on Beyond from $50.00 to $36.00 and set a buy rating for the company in a research note on Wednesday, May 8th. Needham & Company LLC reissued a hold rating on shares of Beyond in a research note on Monday, May 20th. Finally, Bank of America dropped their price target on Beyond from $15.50 to $15.00 and set a neutral rating for the company in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $27.29.

Beyond Stock Performance

Shares of BYON opened at $10.38 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.14 and a debt-to-equity ratio of 0.14. The business has a 50-day simple moving average of $13.62 and a two-hundred day simple moving average of $21.82. The stock has a market cap of $474.89 million, a price-to-earnings ratio of -1.27 and a beta of 3.70. Beyond has a 52 week low of $9.91 and a 52 week high of $38.73.

Beyond (NYSE:BYON) last released its earnings results on Monday, July 29th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.13. Beyond had a negative return on equity of 49.00% and a negative net margin of 22.03%. The firm had revenue of $398.10 million during the quarter, compared to analysts’ expectations of $381.74 million. During the same quarter last year, the business posted ($0.02) earnings per share. The firm’s revenue was down 5.7% on a year-over-year basis. On average, analysts expect that Beyond will post -3.54 EPS for the current year.

Insider Activity

In related news, Chairman Marcus Lemonis acquired 17,075 shares of the stock in a transaction dated Thursday, June 6th. The stock was acquired at an average cost of $14.61 per share, with a total value of $249,465.75. Following the purchase, the chairman now directly owns 186,973 shares of the company’s stock, valued at $2,731,675.53. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman Marcus Lemonis acquired 17,075 shares of the stock in a transaction dated Thursday, June 6th. The stock was acquired at an average cost of $14.61 per share, with a total value of $249,465.75. Following the purchase, the chairman now directly owns 186,973 shares of the company’s stock, valued at $2,731,675.53. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Barclay F. Corbus acquired 5,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was bought at an average cost of $10.66 per share, with a total value of $53,300.00. Following the completion of the purchase, the director now directly owns 66,668 shares in the company, valued at $710,680.88. The disclosure for this purchase can be found here. Insiders purchased 45,095 shares of company stock valued at $649,537 in the last ninety days. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Beyond

A number of institutional investors and hedge funds have recently modified their holdings of BYON. American International Group Inc. bought a new stake in shares of Beyond during the 1st quarter worth approximately $799,000. CANADA LIFE ASSURANCE Co bought a new stake in shares of Beyond during the 1st quarter worth approximately $157,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Beyond during the 1st quarter worth $8,956,000. Shell Asset Management Co. purchased a new position in Beyond during the 1st quarter worth $2,271,000. Finally, Lazard Asset Management LLC purchased a new position in Beyond during the 1st quarter worth $70,000. 76.30% of the stock is owned by institutional investors.

About Beyond

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.