Beyond’s (BYON) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Beyond (NYSE:BYON) in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. They currently have a $13.00 price target on the stock.

BYON has been the topic of several other reports. Piper Sandler decreased their price target on shares of Beyond from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Jefferies Financial Group decreased their price target on shares of Beyond from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Bank of America decreased their price target on shares of Beyond from $15.50 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Wedbush decreased their price target on shares of Beyond from $37.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Finally, Barclays decreased their price target on shares of Beyond from $22.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $17.50.

Beyond Price Performance

Shares of NYSE:BYON opened at $6.37 on Wednesday. The firm has a 50 day moving average of $10.14 and a 200-day moving average of $13.77. The stock has a market capitalization of $291.43 million, a PE ratio of -0.86 and a beta of 3.65. The company has a current ratio of 1.14, a quick ratio of 1.08 and a debt-to-equity ratio of 0.14. Beyond has a 12 month low of $6.06 and a 12 month high of $37.10.

Beyond (NYSE:BYON) last issued its earnings results on Monday, July 29th. The company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.13. The company had revenue of $398.10 million during 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%. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.02) EPS. On average, equities research analysts predict that Beyond will post -3.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other Beyond news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $9.35, for a total transaction of $97,352.20. Following the sale, the director now directly owns 11,368 shares of the company’s stock, valued at $106,290.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 shares were 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 of the company’s stock, valued at approximately $106,290.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Barclay F. Corbus acquired 5,000 shares of Beyond stock in a transaction dated Thursday, August 1st. The stock was purchased at an average cost of $10.66 per share, for a total transaction of $53,300.00. Following the completion of the purchase, the director now owns 66,668 shares in the company, valued at approximately $710,680.88. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Beyond

A number of institutional investors have recently modified their holdings of BYON. Ashton Thomas Private Wealth LLC bought a new stake in shares of Beyond in the 2nd quarter valued at $44,000. CWM LLC bought a new stake in shares of Beyond in the 2nd quarter valued at $46,000. Hollencrest Capital Management bought a new stake in shares of Beyond in the 2nd quarter valued at $46,000. Sunbelt Securities Inc. acquired a new position in shares of Beyond during the 2nd quarter valued at $47,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Beyond during the 1st quarter valued at $66,000. 76.30% of the stock is owned by institutional investors.

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.