Beyond (NYSE:BYON) Price Target Cut to $16.00 by Analysts at Barclays

Beyond (NYSE:BYON) had its price objective cut by Barclays from $22.00 to $16.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 19.58% from the company’s current price.

BYON has been the topic of several other reports. Wedbush restated an “outperform” rating and issued a $37.00 price objective on shares of Beyond in a report on Wednesday. Piper Sandler lowered their target price on Beyond from $26.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Bank of America reduced their target price on shares of Beyond from $19.00 to $15.50 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Maxim Group lowered their price target on shares of Beyond from $50.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Beyond in a report on Monday, May 20th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $29.50.

Beyond Trading Up 5.2 %

Shares of BYON opened at $13.38 on Friday. Beyond has a 12-month low of $11.95 and a 12-month high of $39.27. The firm has a market capitalization of $612.14 million, a P/E ratio of -1.64 and a beta of 3.70. The firm has a 50-day moving average price of $14.18 and a 200 day moving average price of $22.36. The company has a current ratio of 1.24, a quick ratio of 1.19 and a debt-to-equity ratio of 0.12.

Beyond (NYSE:BYON) last posted its earnings results on Monday, May 6th. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.30). The firm had revenue of $382.28 million during the quarter, compared to analyst estimates of $389.36 million. Beyond had a negative net margin of 23.67% and a negative return on equity of 32.05%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. Sell-side analysts forecast that Beyond will post -3.26 EPS for the current year.

Insider Activity at Beyond

In other news, Director Joseph J. Tabacco, Jr. acquired 12,400 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were bought at an average price of $16.01 per share, with a total value of $198,524.00. Following the completion of the acquisition, the director now owns 97,458 shares in the company, valued at approximately $1,560,302.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Beyond news, Chairman Marcus Lemonis bought 6,920 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were acquired at an average cost of $14.13 per share, with a total value of $97,779.60. Following the acquisition, the chairman now directly owns 193,893 shares of the company’s stock, valued at approximately $2,739,708.09. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph J. Tabacco, Jr. purchased 12,400 shares of Beyond stock in a transaction that occurred on Wednesday, May 8th. The stock was acquired at an average price of $16.01 per share, with a total value of $198,524.00. Following the transaction, the director now owns 97,458 shares in the company, valued at $1,560,302.58. The disclosure for this purchase can be found here. Insiders purchased a total of 40,095 shares of company stock valued at $596,237 over the last ninety days. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Tidal Investments LLC acquired a new stake in shares of Beyond during the first quarter worth about $33,599,000. Refined Wealth Management acquired a new stake in Beyond during the 2nd quarter worth approximately $4,201,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Beyond in the 1st quarter valued at approximately $8,956,000. Bank of New York Mellon Corp purchased a new position in shares of Beyond in the 2nd quarter valued at approximately $2,188,000. Finally, Dupree Financial Group LLC acquired a new position in shares of Beyond in the second quarter valued at approximately $1,647,000. 76.30% of the stock is currently owned by institutional investors and hedge funds.

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.