Beyond (NYSE:BYON) Price Target Cut to $11.00

Beyond (NYSE:BYON) had its price target reduced by equities researchers at Jefferies Financial Group from $14.00 to $11.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 10.33% from the company’s current price.

BYON has been the subject of a number of other research reports. Wedbush reduced their price objective on shares of Beyond from $37.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Barclays reduced their price target on Beyond from $22.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, July 26th. Piper Sandler dropped their price objective on Beyond from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Finally, Bank of America reduced their target price on Beyond from $15.50 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Beyond currently has a consensus rating of “Hold” and an average target price of $25.25.

Beyond Stock Performance

Shares of NYSE:BYON traded down $0.38 during trading on Monday, reaching $9.97. The company had a trading volume of 2,817,271 shares, compared to its average volume of 1,851,551. Beyond has a fifty-two week low of $9.05 and a fifty-two week high of $37.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.14 and a quick ratio of 1.08. The stock’s fifty day moving average price is $11.18 and its 200 day moving average price is $17.88. The firm has a market capitalization of $456.13 million, a price-to-earnings ratio of -1.22 and a beta of 3.64.

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

Insider Activity

In other Beyond news, Director Barclay F. Corbus bought 5,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was bought at an average price of $10.66 per share, for a total transaction of $53,300.00. Following the completion of the transaction, the director now owns 66,668 shares in the company, valued at approximately $710,680.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $9.35, for a total value of $97,352.20. Following the sale, the director now directly owns 11,368 shares in the company, valued at $106,290.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Barclay F. Corbus acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average price of $10.66 per share, with a total value of $53,300.00. Following the transaction, the director now owns 66,668 shares in the company, valued at approximately $710,680.88. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BYON. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Beyond during the second quarter worth $44,000. CWM LLC acquired a new stake in Beyond in the 2nd quarter worth about $46,000. Hollencrest Capital Management purchased a new stake in Beyond in the 2nd quarter valued at about $46,000. Sunbelt Securities Inc. acquired a new position in shares of Beyond during the 2nd quarter valued at about $47,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Beyond during the 1st quarter worth about $66,000. 76.30% of the stock is currently 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.