Brokerages Set Beyond Meat, Inc. (NASDAQ:BYND) Price Target at $5.56

Shares of Beyond Meat, Inc. (NASDAQ:BYNDGet Free Report) have received a consensus recommendation of “Strong Sell” from the nine brokerages that are currently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $5.56.

Several analysts have recently weighed in on the company. Argus raised Beyond Meat from a “sell” rating to a “hold” rating in a report on Thursday, February 29th. TD Cowen cut their target price on Beyond Meat from $10.00 to $6.00 and set a “sell” rating for the company in a research report on Wednesday, April 17th. The Goldman Sachs Group cut their target price on Beyond Meat from $4.00 to $3.50 and set a “sell” rating for the company in a research report on Thursday, May 9th. Mizuho cut their price objective on Beyond Meat from $7.00 to $6.00 and set an “underperform” rating for the company in a research report on Monday, April 22nd. Finally, BMO Capital Markets cut their price objective on Beyond Meat from $10.00 to $9.00 and set a “market perform” rating for the company in a research report on Thursday, May 9th.

View Our Latest Report on BYND

Institutional Investors Weigh In On Beyond Meat

Institutional investors and hedge funds have recently made changes to their positions in the company. Clear Street Markets LLC bought a new stake in shares of Beyond Meat during the third quarter worth $31,000. Banque Cantonale Vaudoise grew its stake in shares of Beyond Meat by 117.4% during the first quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock worth $26,000 after purchasing an additional 1,739 shares during the period. Quest Partners LLC acquired a new stake in shares of Beyond Meat during the fourth quarter worth $48,000. Scarborough Advisors LLC acquired a new stake in shares of Beyond Meat during the fourth quarter worth $62,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Beyond Meat during the third quarter worth $84,000. Institutional investors own 52.48% of the company’s stock.

Beyond Meat Stock Performance

Shares of BYND stock opened at $6.81 on Friday. The stock’s 50 day simple moving average is $7.16 and its 200 day simple moving average is $7.73. Beyond Meat has a twelve month low of $5.58 and a twelve month high of $19.25. The company has a market capitalization of $441.87 million, a price-to-earnings ratio of -1.32 and a beta of 2.43.

Beyond Meat (NASDAQ:BYNDGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.05). The business had revenue of $75.60 million during the quarter, compared to analysts’ expectations of $75.24 million. During the same quarter in the prior year, the business earned ($0.92) earnings per share. The firm’s revenue was down 18.0% on a year-over-year basis. On average, analysts forecast that Beyond Meat will post -2.11 EPS for the current fiscal year.

About Beyond Meat

(Get Free Report

Beyond Meat, Inc, a plant-based meat company, develops, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across the platforms of beef, pork, and poultry. It sells its products through grocery, mass merchandiser, club stores, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.

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Analyst Recommendations for Beyond Meat (NASDAQ:BYND)

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