Beyond (NYSE:BYON) Stock Rating Lowered by Needham & Company LLC

Beyond (NYSE:BYON) was downgraded by analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a report released on Wednesday, Marketbeat reports. They currently have a $9.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 62.63% from the company’s previous close.

Several other research firms have also recently issued reports on BYON. Argus cut shares of Beyond from a “hold” rating to a “sell” rating in a research report on Wednesday, December 18th. Maxim Group reduced their price objective 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. Wedbush reiterated an “outperform” rating and set a $15.00 price objective on shares of Beyond in a research report on Wednesday, February 5th. Finally, Barclays reduced their price objective on shares of Beyond from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $10.29.

Beyond Price Performance

NYSE BYON opened at $5.53 on Wednesday. Beyond has a 12 month low of $4.45 and a 12 month high of $37.10. The stock has a market cap of $294.10 million, a price-to-earnings ratio of -0.75 and a beta of 3.91. The company’s 50 day moving average is $6.99 and its two-hundred day moving average is $7.76. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 0.17.

Beyond (NYSE:BYON) last released its quarterly earnings data on Monday, February 24th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.17). The company had revenue of $303.15 million for the quarter, compared to the consensus estimate of $337.96 million. Beyond had a negative net margin of 22.82% and a negative return on equity of 69.32%. As a group, research analysts anticipate that Beyond will post -3.75 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BYON. Entropy Technologies LP purchased a new position in Beyond during the third quarter worth $289,000. Aptus Capital Advisors LLC boosted its stake in Beyond by 25.0% during the third quarter. Aptus Capital Advisors LLC now owns 151,053 shares of the company’s stock worth $1,523,000 after buying an additional 30,196 shares during the period. OneDigital Investment Advisors LLC purchased a new position in Beyond during the third quarter worth $116,000. Royce & Associates LP boosted its stake in Beyond by 57.8% during the third quarter. Royce & Associates LP now owns 845,977 shares of the company’s stock worth $8,527,000 after buying an additional 309,810 shares during the period. Finally, Quest Partners LLC boosted its stake in Beyond by 183.1% during the third quarter. Quest Partners LLC now owns 18,153 shares of the company’s stock worth $183,000 after buying an additional 11,740 shares during the period. 76.30% of the stock is owned by hedge funds and other 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.