Piper Sandler Trims Beyond (NYSE:BYON) Target Price to $14.00

Beyond (NYSE:BYON) had its price objective decreased by Piper Sandler from $17.00 to $14.00 in a research report released on Wednesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other brokerages also recently commented on BYON. Bank of America reduced their price target on shares of Beyond from $15.50 to $15.00 and set a neutral rating for the company in a research report on Wednesday. Maxim Group decreased their target price on Beyond from $50.00 to $36.00 and set a buy rating for the company in a research report on Wednesday, May 8th. 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. Needham & Company LLC reissued a hold rating on shares of Beyond in a research note on Monday, May 20th. Finally, Wedbush reaffirmed an outperform rating and set a $37.00 target price on shares of Beyond in a research note on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $27.29.

Beyond Stock Down 2.6 %

Shares of Beyond stock opened at $10.38 on Wednesday. Beyond has a 12-month low of $9.91 and a 12-month high of $38.73. The firm has a market capitalization of $474.89 million, a PE ratio of -1.27 and a beta of 3.70. The company has a quick ratio of 1.19, a current ratio of 1.14 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average is $13.62 and its 200-day moving average is $21.82.

Beyond (NYSE:BYON) last posted its quarterly earnings data on Monday, July 29th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.13. Beyond had a negative return on equity of 49.00% and a negative net margin of 22.03%. The firm had revenue of $398.10 million for the quarter, compared to the consensus estimate of $381.74 million. During the same quarter in the previous year, the company earned ($0.02) EPS. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. Equities analysts anticipate that Beyond will post -3.54 earnings per share for the current year.

Insider Activity at Beyond

In other news, Chairman Marcus Lemonis bought 17,075 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were bought at an average cost of $14.61 per share, with a total value of $249,465.75. Following the transaction, the chairman now directly owns 186,973 shares in the company, valued at approximately $2,731,675.53. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Beyond news, Chairman Marcus Lemonis purchased 17,075 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were bought at an average price of $14.61 per share, for a total transaction of $249,465.75. Following the purchase, the chairman now directly owns 186,973 shares in the company, valued at approximately $2,731,675.53. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Barclay F. Corbus acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was acquired at an average price of $10.66 per share, with a total value of $53,300.00. Following the completion of the acquisition, the director now directly owns 66,668 shares of the company’s stock, valued at approximately $710,680.88. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 45,095 shares of company stock valued at $649,537. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC acquired a new position in Beyond during the 1st quarter worth $33,599,000. Refined Wealth Management acquired a new stake in Beyond during the second quarter worth $4,201,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Beyond in the 1st quarter valued at $8,956,000. Bank of New York Mellon Corp acquired a new position in shares of Beyond in the 2nd quarter valued at $2,188,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Beyond during the 2nd quarter worth about $1,693,000. 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.