Needham & Company LLC Downgrades Beyond (NYSE:BYON) to Hold

Beyond (NYSE:BYON) was downgraded by equities researchers at Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, MarketBeat.com reports.

BYON has been the subject of a number of other research reports. Compass Point started coverage on Beyond in a research report on Thursday, February 1st. They issued a “buy” rating and a $45.00 price objective for the company. Maxim Group began coverage on shares of Beyond in a report on Wednesday, April 17th. They set a “buy” rating and a $50.00 price objective on the stock. Piper Sandler cut their price target on shares of Beyond from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, April 18th. Barclays lifted their price objective on shares of Beyond from $24.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 22nd. Finally, Wedbush restated an “outperform” rating and issued a $43.00 target price on shares of Beyond in a research note on Tuesday, April 30th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.67.

Beyond Price Performance

Shares of NYSE BYON opened at $16.52 on Wednesday. The stock’s fifty day moving average is $29.37. Beyond has a 1-year low of $13.71 and a 1-year high of $39.27. The company has a quick ratio of 1.45, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The stock has a market cap of $755.46 million, a PE ratio of -2.43 and a beta of 3.92.

Beyond (NYSE:BYON) last released its quarterly earnings results on Monday, May 6th. The company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.30). Beyond had a negative net margin of 19.72% and a negative return on equity of 16.92%. The firm had revenue of $382.28 million during the quarter, compared to the consensus estimate of $389.36 million. During the same quarter in the prior year, the business posted ($0.10) earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis. As a group, equities research analysts anticipate that Beyond will post -1.85 earnings per share for the current fiscal year.

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.