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.

BYON has been the topic of several other research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Beyond in a research report on Friday, April 12th. Wedbush reaffirmed an “outperform” rating and issued a $35.00 price target (up previously from $33.00) on shares of Beyond in a report on Wednesday, February 21st. Barclays increased their price objective on Beyond from $24.00 to $30.00 and gave the company an “equal weight” rating in a report on Thursday, February 22nd. Maxim Group began coverage on Beyond in a research note on Wednesday. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Compass Point assumed coverage on Beyond in a research note on Thursday, February 1st. They set a “buy” rating and a $45.00 price target for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.67.

Beyond Stock Up 0.7 %

The company has a market cap of $1.10 billion, a PE ratio of -3.44 and a beta of 3.76. The company has a quick ratio of 1.45, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The firm’s 50-day moving average price is $30.93.

Beyond (NYSE:BYON) last posted its earnings results on Tuesday, February 20th. The company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.51). Beyond had a negative return on equity of 16.92% and a negative net margin of 19.72%. The firm had revenue of $384.46 million for the quarter, compared to the consensus estimate of $343.10 million. On average, sell-side analysts expect that Beyond, Inc. will post -1.59 earnings per share for the current year.

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.