Maxim Group Cuts Beyond (NYSE:BYON) Price Target to $16.00

Beyond (NYSE:BYON) had its price objective reduced by Maxim Group from $26.00 to $16.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also commented on the company. Wedbush reissued an “outperform” rating and issued a $15.00 target price on shares of Beyond in a report on Wednesday, February 5th. Barclays reduced their target price on Beyond from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, January 9th. Finally, Argus lowered Beyond from a “hold” rating to a “sell” rating in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.86.

Beyond Stock Up 0.2 %

Shares of NYSE:BYON opened at $6.40 on Wednesday. The stock has a fifty day simple moving average of $6.92 and a two-hundred day simple moving average of $7.88. The stock has a market capitalization of $339.86 million, a price-to-earnings ratio of -0.87 and a beta of 3.81. Beyond has a 12-month low of $4.45 and a 12-month high of $37.10. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 0.17.

Beyond (NYSE:BYON) last announced its quarterly earnings data on Monday, February 24th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.17). The company had revenue of $303.15 million for the quarter, compared to analysts’ expectations of $337.96 million. Beyond had a negative net margin of 22.82% and a negative return on equity of 69.32%. On average, research analysts anticipate that Beyond will post -3.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Beyond

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC purchased a new position in Beyond during the fourth quarter valued at $30,000. Canada Pension Plan Investment Board purchased a new position in Beyond during the fourth quarter valued at $32,000. R Squared Ltd purchased a new position in Beyond during the fourth quarter valued at $32,000. Skandinaviska Enskilda Banken AB publ lifted its position in Beyond by 68.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 6,592 shares of the company’s stock valued at $32,000 after purchasing an additional 2,678 shares in the last quarter. Finally, Safe Harbor Fiduciary LLC purchased a new position in Beyond during the third quarter valued at $80,000. 76.30% of the stock is currently owned by hedge funds and other institutional investors.

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.