Beyond (NYSE:BYON) Stock Rating Reaffirmed by Wedbush

Wedbush reiterated their outperform rating on shares of Beyond (NYSE:BYON) in a research note published on Wednesday morning, RTT News reports. The firm currently has a $37.00 price objective on the stock.

BYON has been the topic of several other reports. Bank of America reduced their price target on Beyond from $19.00 to $15.50 and set a neutral rating on the stock in a report on Tuesday, June 18th. Maxim Group reduced their price target on Beyond from $50.00 to $36.00 and set a buy rating on the stock in a report on Wednesday, May 8th. Barclays reduced their price target on Beyond from $30.00 to $22.00 and set an equal weight rating on the stock in a report on Wednesday, May 8th. Needham & Company LLC reiterated a hold rating on shares of Beyond in a report on Monday, May 20th. Finally, Piper Sandler reduced their price target on Beyond from $26.00 to $17.00 and set a neutral rating on the stock in a report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $29.50.

Beyond Stock Up 3.2 %

Shares of BYON stock opened at $13.81 on Wednesday. Beyond has a 1 year low of $11.95 and a 1 year high of $39.27. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.19 and a current ratio of 1.24. The stock’s 50 day simple moving average is $14.09 and its two-hundred day simple moving average is $22.26.

Beyond (NYSE:BYON) last issued its quarterly earnings data on Monday, May 6th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.30). Beyond had a negative net margin of 23.67% and a negative return on equity of 32.05%. The company had revenue of $382.28 million for the quarter, compared to analysts’ expectations of $389.36 million. During the same quarter last year, the company earned ($0.10) earnings per share. The company’s revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts anticipate that Beyond will post -3.3 earnings per share for the current year.

Insider Buying and Selling at Beyond

In other news, Director Joseph J. Tabacco, Jr. bought 12,400 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was acquired at an average cost of $16.01 per share, with a total value of $198,524.00. Following the transaction, the director now directly owns 97,458 shares in the company, valued at approximately $1,560,302.58. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Marcus Lemonis purchased 6,920 shares of Beyond stock in a transaction dated Monday, June 10th. The stock was purchased at an average cost of $14.13 per share, with a total value of $97,779.60. Following the transaction, the chairman now owns 193,893 shares in the company, valued at approximately $2,739,708.09. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joseph J. Tabacco, Jr. purchased 12,400 shares of Beyond stock in a transaction dated Wednesday, May 8th. The stock was bought at an average cost of $16.01 per share, with a total value of $198,524.00. Following the completion of the transaction, 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 bought a total of 40,095 shares of company stock valued at $596,237 in the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BYON. Tidal Investments LLC purchased a new position in Beyond during the 1st quarter worth $33,599,000. Refined Wealth Management purchased a new position in Beyond during the 2nd quarter worth $4,201,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Beyond during the 1st quarter worth $8,956,000. Bank of New York Mellon Corp purchased a new position in Beyond during the 2nd quarter worth $2,188,000. Finally, Dupree Financial Group LLC purchased a new position in Beyond during the 2nd quarter worth $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.