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

Beyond (NYSE:BYON) had its target price decreased by investment analysts at Jefferies Financial Group from $14.00 to $11.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “hold” rating on the stock. Jefferies Financial Group’s target price points to a potential upside of 4.27% from the stock’s current price.

Several other brokerages also recently issued reports on BYON. Piper Sandler reduced their price objective on Beyond from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Barclays reduced their target price on Beyond from $22.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, July 26th. Bank of America reduced their target price on Beyond from $15.50 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Finally, Wedbush reduced their target price on Beyond from $37.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $25.25.

Beyond Stock Up 6.0 %

Shares of NYSE:BYON opened at $10.55 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.14 and a debt-to-equity ratio of 0.14. Beyond has a 52-week low of $9.05 and a 52-week high of $37.10. The stock’s fifty day simple moving average is $11.02 and its 200-day simple moving average is $17.53. The company has a market capitalization of $482.66 million, a P/E ratio of -1.29 and a beta of 3.64.

Beyond (NYSE:BYON) last issued 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. Beyond had a negative return on equity of 49.00% and a negative net margin of 22.03%. The business had revenue of $398.10 million for the quarter, compared to the consensus estimate of $381.74 million. During the same period in the prior year, the business earned ($0.02) earnings per share. The business’s revenue was down 5.7% on a year-over-year basis. As a group, equities research analysts forecast that Beyond will post -3.54 earnings per share for the current fiscal year.

Insider Transactions at Beyond

In other news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $9.35, for a total value of $97,352.20. Following the transaction, the director now directly owns 11,368 shares in the company, valued at approximately $106,290.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $9.35, for a total value of $97,352.20. Following the completion of the sale, the director now owns 11,368 shares in the company, valued at $106,290.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Barclay F. Corbus bought 5,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of $10.66 per share, with a total value of $53,300.00. Following the purchase, the director now owns 66,668 shares of the company’s stock, 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 Investors Weigh In On Beyond

A number of large investors have recently modified their holdings of the stock. American International Group Inc. acquired a new stake in Beyond during the 1st quarter valued at approximately $799,000. CANADA LIFE ASSURANCE Co acquired a new stake in Beyond during the 1st quarter valued at approximately $157,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Beyond during the 1st quarter valued at approximately $8,956,000. Shell Asset Management Co. acquired a new stake in Beyond during the 1st quarter valued at approximately $2,271,000. Finally, Lazard Asset Management LLC acquired a new stake in Beyond during the 1st quarter valued at approximately $70,000. Institutional investors and hedge funds own 76.30% of the company’s stock.

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.