Beyond Meat (BYND) Releases Quarterly Earnings Results, Hits Estimates

Beyond Meat (NASDAQ:BYND) released its quarterly earnings results on Thursday. The company reported ($0.14) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.14), Briefing.com reports. The business had revenue of $40.20 million during the quarter, compared to analyst estimates of $38.93 million. The company’s revenue for the quarter was up 214.1% compared to the same quarter last year. Beyond Meat updated its FY 2019 guidance to EPS.

Shares of Beyond Meat stock opened at $138.65 on Friday. Beyond Meat has a fifty-two week low of $45.00 and a fifty-two week high of $149.46.

In other news, Director Raymond J. Lane acquired 29,442 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average cost of $25.00 per share, with a total value of $736,050.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dariush Ajami acquired 2,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average cost of $25.00 per share, with a total value of $50,000.00. The disclosure for this purchase can be found here.

Several research analysts recently commented on BYND shares. Sanford C. Bernstein started coverage on Beyond Meat in a research note on Monday, May 6th. They issued an “outperform” rating on the stock. Consumer Edge started coverage on Beyond Meat in a research note on Monday, May 20th. They issued an “equal weight” rating and a $89.35 price target on the stock. Goldman Sachs Group started coverage on Beyond Meat in a research note on Monday, May 27th. They issued a “neutral” rating and a $67.00 price target on the stock. Jefferies Financial Group started coverage on Beyond Meat in a research note on Tuesday, May 28th. They issued a “hold” rating and a $85.00 price target on the stock. Finally, JPMorgan Chase & Co. started coverage on Beyond Meat in a research note on Tuesday, May 28th. They issued an “overweight” rating and a $97.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $101.23.

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Beyond Meat Company Profile

Beyond Meat, Inc, a food company, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells its products under the Beyond Beef, Beyond Chicken, The Beyond Burger, Beyond Meat, Beyond Sausage, Eat What You Love, and The Cookout Classic brand names.

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