Beyond (NYSE:BYON) Given New $15.00 Price Target at Wedbush

Beyond (NYSE:BYON) had its target price decreased by Wedbush from $25.00 to $15.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price target suggests a potential upside of 130.77% from the company’s previous close.

Several other brokerages have also recently issued reports on BYON. Needham & Company LLC reiterated a “buy” rating and set a $13.00 price target on shares of Beyond in a research report on Wednesday. Jefferies Financial Group lowered their target price on Beyond from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Bank of America lowered shares of Beyond from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $12.50 to $6.00 in a research note on Friday. Maxim Group cut their price objective on shares of Beyond from $33.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Piper Sandler cut their target price on Beyond from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.50.

Beyond Price Performance

BYON traded down $0.19 during midday trading on Friday, hitting $6.50. The stock had a trading volume of 3,147,998 shares, compared to its average volume of 1,879,864. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.08 and a current ratio of 1.14. Beyond has a 1 year low of $6.06 and a 1 year high of $37.10. The business has a fifty day moving average of $10.30 and a 200 day moving average of $14.09. The company has a market cap of $297.38 million, a P/E ratio of -0.87 and a beta of 3.65.

Beyond (NYSE:BYON) last released its quarterly earnings results on Monday, July 29th. The company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 49.00% and a negative net margin of 22.03%. Beyond’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.02) EPS. As a group, equities analysts forecast that Beyond will post -3.55 earnings per share for the current fiscal year.

Insider Activity at Beyond

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

Institutional Investors Weigh In On Beyond

A number of hedge funds have recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new position in shares of Beyond in the 2nd quarter valued at about $44,000. CWM LLC purchased a new stake in Beyond during the 2nd quarter valued at $46,000. Hollencrest Capital Management bought a new stake in Beyond in the second quarter worth $46,000. Sunbelt Securities Inc. purchased a new position in Beyond during the second quarter worth $47,000. Finally, Public Employees Retirement System of Ohio bought a new position in Beyond during the first quarter valued at $66,000. 76.30% of the stock is currently owned by hedge funds and other institutional investors.

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.