Beyond (NYSE:BYON) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Beyond (NYSE:BYON) in a report released on Wednesday morning, Marketbeat Ratings reports. Needham & Company LLC currently has a $13.00 target price on the stock.

Several other analysts have also commented on the stock. Barclays lowered their price objective on shares of Beyond from $22.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, July 26th. Wedbush dropped their price target on Beyond from $37.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Bank of America decreased their price objective on Beyond from $15.50 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Piper Sandler dropped their target price on shares of Beyond from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Finally, Jefferies Financial Group decreased their price target on shares of Beyond from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.88.

Beyond Price Performance

Shares of Beyond stock opened at $9.52 on Wednesday. The business has a 50 day moving average of $10.30 and a 200 day moving average of $14.09. Beyond has a 52 week low of $8.91 and a 52 week high of $37.10. The company has a market cap of $435.54 million, a PE ratio of -1.28 and a beta of 3.65. The company has a quick ratio of 1.08, a current ratio of 1.14 and a debt-to-equity ratio of 0.14.

Beyond (NYSE:BYON) last issued its quarterly earnings data on Monday, July 29th. The company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.13. The business had revenue of $398.10 million during the quarter, compared to analyst estimates of $381.74 million. Beyond had a negative net margin of 22.03% and a negative return on equity of 49.00%. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.02) EPS. As a group, equities research analysts forecast that Beyond will post -3.55 earnings per share for the current year.

Insider Activity

In other news, Director Barclay F. Corbus purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average price of $10.66 per share, for a total transaction of $53,300.00. Following the purchase, the director now directly owns 66,668 shares in the company, valued at approximately $710,680.88. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Barclay F. Corbus acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average cost of $10.66 per share, for a total transaction of $53,300.00. Following the acquisition, the director now directly owns 66,668 shares in the company, valued at approximately $710,680.88. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William Benjamin Nettles, Jr. sold 10,412 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $9.35, for a total value of $97,352.20. Following the completion of the transaction, the director now directly owns 11,368 shares in the company, valued at $106,290.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Beyond

A number of institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC bought a new stake in shares of Beyond in the first quarter worth $33,599,000. Dimensional Fund Advisors LP purchased a new stake in shares of Beyond during the 2nd quarter valued at about $9,538,000. Refined Wealth Management purchased a new stake in shares of Beyond during the 2nd quarter valued at about $4,201,000. ProShare Advisors LLC bought a new position in shares of Beyond in the 2nd quarter worth approximately $3,800,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Beyond during the first quarter valued at approximately $8,956,000. Hedge funds and other institutional investors 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.