Beyond (NYSE:BYON) Receives “Outperform” Rating from Wedbush

Beyond (NYSE:BYON)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a report issued on Wednesday,RTT News reports. They presently have a $15.00 target price on the stock. Wedbush’s target price would indicate a potential upside of 199.70% from the stock’s current price.

A number of other research firms have also recently commented on BYON. Jefferies Financial Group decreased their price target on Beyond from $7.25 to $6.50 and set a “hold” rating on the stock in a research note on Monday, March 10th. Needham & Company LLC lowered Beyond from a “buy” rating to a “hold” rating and set a $9.00 price target on the stock. in a report on Wednesday, March 5th. Maxim Group lowered their price target on Beyond from $26.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Barclays lowered their price target on Beyond from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, January 9th. Finally, Argus lowered Beyond from a “hold” rating to a “sell” rating in a report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $9.64.

Beyond Stock Down 1.5 %

Shares of NYSE BYON opened at $5.01 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $6.97 and its two-hundred day moving average is $7.41. Beyond has a 52-week low of $4.45 and a 52-week high of $37.10. The firm has a market cap of $265.99 million, a price-to-earnings ratio of -0.68 and a beta of 3.91.

Beyond (NYSE:BYON) last released its quarterly earnings results on Monday, February 24th. The company reported ($0.91) 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. Research analysts predict that Beyond will post -3.75 EPS for the current year.

Insider Activity

In related news, Chairman Marcus Lemonis purchased 19,193 shares of Beyond stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $5.03 per share, for a total transaction of $96,540.79. Following the transaction, the chairman now owns 456,151 shares in the company, valued at approximately $2,294,439.53. The trade was a 4.39 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Beyond

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC lifted its position in shares of Beyond by 140.4% during the 4th quarter. Tidal Investments LLC now owns 2,406,746 shares of the company’s stock valued at $11,865,000 after acquiring an additional 1,405,770 shares during the period. State Street Corp raised its position in shares of Beyond by 0.9% during the 3rd quarter. State Street Corp now owns 1,016,563 shares of the company’s stock worth $10,247,000 after purchasing an additional 8,580 shares during the last quarter. Two Sigma Investments LP raised its position in shares of Beyond by 75.1% during the 4th quarter. Two Sigma Investments LP now owns 916,178 shares of the company’s stock worth $4,517,000 after purchasing an additional 392,977 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Beyond by 362.8% during the 4th quarter. Two Sigma Advisers LP now owns 901,500 shares of the company’s stock worth $4,444,000 after purchasing an additional 706,700 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Beyond by 26.4% during the 4th quarter. Invesco Ltd. now owns 796,445 shares of the company’s stock worth $3,926,000 after purchasing an additional 166,411 shares during 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.