Barclays Lowers Beyond (NYSE:BYON) Price Target to $16.00

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

A number of other equities research analysts have also commented on the company. Needham & Company LLC restated a “hold” rating on shares of Beyond in a research report on Monday, May 20th. Maxim Group lowered their price objective on shares of Beyond from $50.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Piper Sandler dropped their price objective on shares of Beyond from $26.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Bank of America decreased their target price on shares of Beyond from $19.00 to $15.50 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $37.00 price target on shares of Beyond in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Beyond currently has a consensus rating of “Hold” and an average price target of $29.50.

Beyond Trading Up 5.2 %

NYSE:BYON opened at $13.38 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.24 and a debt-to-equity ratio of 0.12. Beyond has a 1-year low of $11.95 and a 1-year high of $39.27. The firm has a market capitalization of $612.14 million, a price-to-earnings ratio of -1.64 and a beta of 3.70. The stock has a fifty day simple moving average of $14.18 and a 200 day simple moving average of $22.36.

Beyond (NYSE:BYON) last announced its earnings results on Monday, May 6th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.30). The firm had revenue of $382.28 million for 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%. Beyond’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the firm earned ($0.10) earnings per share. Sell-side analysts forecast that Beyond will post -3.26 earnings per share for the current year.

Insiders Place Their Bets

In other Beyond news, Chairman Marcus Lemonis purchased 3,700 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $13.64 per share, for a total transaction of $50,468.00. Following the acquisition, the chairman now owns 197,593 shares of the company’s stock, valued at $2,695,168.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Marcus Lemonis purchased 3,700 shares of Beyond stock in a transaction on Friday, June 14th. The stock was bought at an average price of $13.64 per share, with a total value of $50,468.00. Following the completion of the transaction, the chairman now directly owns 197,593 shares of the company’s stock, valued at $2,695,168.52. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph J. Tabacco, Jr. acquired 12,400 shares of the stock in a transaction dated Wednesday, May 8th. The shares were bought at an average cost of $16.01 per share, for a total transaction of $198,524.00. Following the acquisition, the director now owns 97,458 shares in the company, valued at approximately $1,560,302.58. The disclosure for this purchase can be found here. Insiders acquired 40,095 shares of company stock valued at $596,237 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Beyond

Large investors have recently modified their holdings of the company. Tidal Investments LLC bought a new position in Beyond in the 1st quarter worth $33,599,000. Refined Wealth Management acquired a new position in shares of Beyond during the 2nd quarter worth about $4,201,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Beyond during the 1st quarter valued at approximately $8,956,000. Bank of New York Mellon Corp acquired a new stake in Beyond in the 2nd quarter valued at approximately $2,188,000. Finally, Dupree Financial Group LLC bought a new position in Beyond in the 2nd quarter worth approximately $1,647,000. 76.30% of the stock is owned by 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.