Beyond Meat (NASDAQ:BYND) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Beyond Meat (NASDAQ:BYND) announced its quarterly earnings results on Wednesday. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.05), RTT News reports. The company had revenue of $75.60 million for the quarter, compared to the consensus estimate of $75.24 million. Beyond Meat’s revenue for the quarter was down 18.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.92) EPS.

Beyond Meat Price Performance

Shares of NASDAQ:BYND traded down $0.07 during mid-day trading on Wednesday, reaching $8.21. 4,067,999 shares of the company traded hands, compared to its average volume of 3,152,372. The company’s 50 day moving average price is $7.67 and its 200-day moving average price is $7.58. The firm has a market cap of $531.02 million, a PE ratio of -1.57 and a beta of 2.42. Beyond Meat has a 52 week low of $5.58 and a 52 week high of $19.25.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. TD Cowen lowered their price target on shares of Beyond Meat from $10.00 to $6.00 and set a “sell” rating for the company in a research report on Wednesday, April 17th. Mizuho cut their target price on shares of Beyond Meat from $7.00 to $6.00 and set an “underperform” rating for the company in a research report on Monday, April 22nd. BMO Capital Markets lifted their price objective on Beyond Meat from $7.00 to $10.00 and gave the stock a “market perform” rating in a report on Wednesday, February 28th. Finally, Argus raised shares of Beyond Meat from a “sell” rating to a “hold” rating in a research report on Thursday, February 29th. Five research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $5.83.

About Beyond Meat

Beyond Meat, Inc, a plant-based meat company, develops, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across the platforms of beef, pork, and poultry. It sells its products through grocery, mass merchandiser, club stores, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.