Beyond (NYSE:BYON) Downgraded to “Hold” Rating by Needham & Company LLC

Needham & Company LLC cut shares of Beyond (NYSE:BYON) from a buy rating to a hold rating in a research note published on Wednesday, MarketBeat Ratings reports. They currently have $9.00 price target on the stock.

BYON has been the topic of a number of other reports. Barclays dropped their price target on shares of Beyond from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 9th. Wedbush reiterated an “outperform” rating and set a $15.00 price target on shares of Beyond in a research note on Wednesday, February 5th. Argus lowered shares of Beyond from a “hold” rating to a “sell” rating in a research note on Wednesday, December 18th. Finally, Maxim Group lowered their target price on shares of Beyond from $26.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.29.

Beyond Trading Down 3.5 %

NYSE BYON opened at $5.69 on Wednesday. Beyond has a one year low of $4.45 and a one year high of $37.10. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.91 and a current ratio of 0.97. The firm’s fifty day moving average is $6.98 and its two-hundred day moving average is $7.78. The firm has a market cap of $302.55 million, a PE ratio of -0.77 and a beta of 3.91.

Beyond (NYSE:BYON) last issued its quarterly earnings results on Monday, February 24th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.17). Beyond had a negative return on equity of 69.32% and a negative net margin of 22.82%. The firm had revenue of $303.15 million for the quarter, compared to analyst estimates of $337.96 million. Analysts expect that Beyond will post -3.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in shares of Beyond by 1.0% in the fourth quarter. Bank of New York Mellon Corp now owns 136,405 shares of the company’s stock valued at $672,000 after purchasing an additional 1,292 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Beyond by 12.8% in the third quarter. Franklin Resources Inc. now owns 21,299 shares of the company’s stock valued at $217,000 after purchasing an additional 2,411 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Beyond by 68.4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 6,592 shares of the company’s stock valued at $32,000 after purchasing an additional 2,678 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Beyond by 25.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,127 shares of the company’s stock valued at $152,000 after purchasing an additional 3,059 shares in the last quarter. Finally, Dupree Financial Group LLC lifted its holdings in shares of Beyond by 4.6% in the fourth quarter. Dupree Financial Group LLC now owns 94,149 shares of the company’s stock valued at $464,000 after purchasing an additional 4,107 shares in the last quarter. 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.