Brokerages Set Beyond Meat, Inc. (NASDAQ:BYND) Target Price at $5.56

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have been given a consensus recommendation of “Strong Sell” by the nine analysts that are currently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $5.56.

Several equities analysts have issued reports on BYND shares. BMO Capital Markets cut their target price on Beyond Meat from $10.00 to $9.00 and set a “market perform” rating on the stock in a research note on Thursday, May 9th. TD Cowen cut their target price on Beyond Meat from $10.00 to $6.00 and set a “sell” rating on the stock in a research note on Wednesday, April 17th. Canaccord Genuity Group dropped their price target on Beyond Meat from $9.00 to $7.00 and set a “hold” rating on the stock in a research note on Friday, May 10th. The Goldman Sachs Group dropped their price target on Beyond Meat from $4.00 to $3.50 and set a “sell” rating on the stock in a research note on Thursday, May 9th. Finally, Mizuho dropped their price target on Beyond Meat from $7.00 to $6.00 and set an “underperform” rating on the stock in a research note on Monday, April 22nd.

Beyond Meat Price Performance

BYND opened at $6.83 on Tuesday. The business’s 50-day moving average is $7.16 and its two-hundred day moving average is $7.50. Beyond Meat has a 1 year low of $5.58 and a 1 year high of $19.25. The firm has a market capitalization of $443.20 million, a PE ratio of -1.32 and a beta of 2.26.

Beyond Meat (NASDAQ:BYND) last posted its earnings results on Wednesday, May 8th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.05). The business had revenue of $75.60 million during the quarter, compared to the consensus estimate of $75.24 million. During the same quarter in the previous year, the business earned ($0.92) EPS. Beyond Meat’s revenue was down 18.0% compared to the same quarter last year. As a group, sell-side analysts expect that Beyond Meat will post -2.11 EPS for the current year.

Institutional Investors Weigh In On Beyond Meat

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Beyond Meat by 3.0% in the first quarter. Vanguard Group Inc. now owns 5,351,777 shares of the company’s stock valued at $44,313,000 after buying an additional 155,653 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Beyond Meat by 6.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 483,732 shares of the company’s stock valued at $4,654,000 after buying an additional 30,998 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Beyond Meat in the first quarter valued at approximately $902,000. SG Americas Securities LLC boosted its position in Beyond Meat by 312.6% in the first quarter. SG Americas Securities LLC now owns 102,947 shares of the company’s stock valued at $852,000 after buying an additional 77,996 shares during the last quarter. Finally, Arbor Capital Management Inc. ADV purchased a new stake in Beyond Meat in the fourth quarter valued at approximately $752,000. Hedge funds and other institutional investors own 52.48% of the company’s stock.

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.