Beyond (NYSE:BYON) Rating Reiterated by Needham & Company LLC

Beyond (NYSE:BYON)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research report issued on Wednesday, MarketBeat Ratings reports. They presently have a $13.00 price target on the stock. Needham & Company LLC’s target price would suggest a potential upside of 94.32% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Jefferies Financial Group lowered their price objective on Beyond from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. Barclays lowered their price target on Beyond from $22.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, July 26th. Piper Sandler cut their price objective on shares of Beyond from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Bank of America lowered their target price on shares of Beyond from $15.50 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Finally, Wedbush cut their target price 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. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Beyond has an average rating of “Moderate Buy” and an average price target of $21.88.

Beyond Trading Down 29.7 %

Beyond stock opened at $6.69 on Wednesday. Beyond has a 12-month low of $6.30 and a 12-month high of $37.10. The firm has a market capitalization of $306.07 million, a price-to-earnings ratio of -0.90 and a beta of 3.65. The firm has a 50 day moving average of $10.30 and a 200 day moving average of $14.09. 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 (NYSE:BYON) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.13. Beyond had a negative net margin of 22.03% and a negative return on equity of 49.00%. The firm had revenue of $398.10 million during the quarter, compared to analysts’ expectations of $381.74 million. During the same period in the prior year, the company posted ($0.02) earnings per share. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. As a group, research analysts predict that Beyond will post -3.55 earnings per share for the current year.

Insider Activity at Beyond

In other Beyond news, Director Barclay F. Corbus purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average price of $10.66 per share, with a total value of $53,300.00. Following the completion of the purchase, the director now directly owns 66,668 shares in the company, valued at $710,680.88. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $9.35, for a total value of $97,352.20. Following the completion of the transaction, the director now owns 11,368 shares of the company’s stock, valued at approximately $106,290.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barclay F. Corbus acquired 5,000 shares of Beyond stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $10.66 per share, for a total transaction of $53,300.00. Following the completion of the purchase, the director now directly owns 66,668 shares of the company’s stock, valued at $710,680.88. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Beyond

Institutional investors and hedge funds have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC purchased a new stake in Beyond during the 2nd quarter valued at $44,000. CWM LLC bought a new position in Beyond during the second quarter valued at $46,000. Hollencrest Capital Management purchased a new stake in shares of Beyond in the second quarter valued at $46,000. Sunbelt Securities Inc. bought a new stake in shares of Beyond in the 2nd quarter worth about $47,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Beyond during the 1st quarter worth about $66,000. Hedge funds and other institutional investors own 76.30% of the company’s stock.

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.