Needham & Company LLC Reaffirms Buy Rating for Beyond (NYSE:BYON)

Beyond (NYSE:BYON)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research note issued on Wednesday, Benzinga reports. They currently have a $13.00 price target on the stock. Needham & Company LLC’s price target suggests a potential upside of 27.95% from the company’s current price.

Other research analysts have also issued reports about the stock. Barclays decreased their price target on shares of Beyond from $22.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, July 26th. Wedbush decreased their price target on shares of Beyond from $37.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Bank of America decreased their price target on shares of Beyond from $15.50 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. 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. Finally, Piper Sandler cut their price objective on shares of Beyond from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Beyond has a consensus rating of “Moderate Buy” and a consensus target price of $21.88.

Beyond Stock Down 2.4 %

Shares of NYSE BYON opened at $10.16 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 1.08 and a debt-to-equity ratio of 0.14. Beyond has a 12 month low of $8.91 and a 12 month high of $37.10. The firm has a market capitalization of $464.82 million, a PE ratio of -1.36 and a beta of 3.65. The firm has a fifty day simple moving average of $10.30 and a two-hundred day simple moving average of $14.13.

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. Equities analysts expect that Beyond will post -3.55 earnings per share for the current year.

Insider Activity

In related news, Director Barclay F. Corbus acquired 5,000 shares of Beyond stock in a transaction dated Thursday, August 1st. The shares were purchased at an average price of $10.66 per share, for a total transaction of $53,300.00. Following the completion of the transaction, the director now directly owns 66,668 shares in the company, valued at approximately $710,680.88. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Barclay F. Corbus acquired 5,000 shares of Beyond stock in a transaction dated Thursday, August 1st. The shares were purchased at an average price of $10.66 per share, for a total transaction of $53,300.00. Following the completion of the transaction, the director now directly owns 66,668 shares in the company, valued at approximately $710,680.88. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Benjamin Nettles, Jr. sold 10,412 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $9.35, for a total transaction of $97,352.20. Following the completion of the transaction, the director now directly owns 11,368 shares of the company’s stock, valued at approximately $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. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tidal Investments LLC purchased a new position in shares of Beyond in the first quarter valued at $33,599,000. Dimensional Fund Advisors LP purchased a new position in shares of Beyond in the second quarter valued at $9,538,000. Refined Wealth Management purchased a new position in shares of Beyond in the second quarter valued at $4,201,000. ProShare Advisors LLC purchased a new position in shares of Beyond in the second quarter valued at $3,800,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Beyond in the first quarter valued at $8,956,000. 76.30% of the stock is 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.