Beachbody (NASDAQ:BODI) Posts Quarterly Earnings Results, Beats Expectations By $0.70 EPS

Key Points

• Beachbody beat expectations: reported Qtr EPS of $0.71 vs. analysts' $0.01 and revenue of $55.54M vs. $54.22M estimates.
• Despite the beat, the company remains unprofitable with a negative net margin of 15.09% and negative return on equity, while shares traded up about 1.7% to $8.33 and the market cap is roughly $59M.
• Analyst coverage is mixed—three Buys, two Holds and one Sell—with an average rating of "Hold" and an average target price of $11.33.

Beachbody (NASDAQ:BODI - Get Free Report) issued its earnings results on Tuesday. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.70, FiscalAI reports. The firm had revenue of $55.54 million during the quarter, compared to analyst estimates of $54.22 million. Beachbody had a negative net margin of 15.09% and a negative return on equity of 78.72%.

Beachbody Stock Up 1.7%

Shares of NASDAQ BODI traded up $0.14 during midday trading on Tuesday, reaching $8.33. 23,133 shares of the company's stock traded hands, compared to its average volume of 38,480. The company has a market cap of $59.06 million, a price-to-earnings ratio of -1.34 and a beta of 1.15. The stock's 50 day simple moving average is $9.63 and its 200-day simple moving average is $8.03. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 0.93. Beachbody has a one year low of $3.38 and a one year high of $12.66.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Craig Hallum initiated coverage on shares of Beachbody in a research note on Monday, March 2nd. They set a "buy" rating and a $15.00 price target for the company. Zacks Research downgraded Beachbody from a "strong-buy" rating to a "hold" rating in a report on Monday, February 9th. Canaccord Genuity Group lifted their target price on Beachbody from $9.00 to $12.00 and gave the company a "buy" rating in a research report on Tuesday. Wall Street Zen upgraded Beachbody to a "buy" rating in a report on Saturday, December 27th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Beachbody in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $11.33.

Institutional Trading of Beachbody

A number of hedge funds have recently bought and sold shares of BODI. Cruiser Capital Advisors LLC purchased a new position in shares of Beachbody in the 3rd quarter valued at $117,000. Renaissance Technologies LLC lifted its stake in shares of Beachbody by 54.0% during the 4th quarter. Renaissance Technologies LLC now owns 52,769 shares of the company's stock worth $547,000 after purchasing an additional 18,505 shares during the last quarter. State Street Corp bought a new stake in Beachbody during the fourth quarter valued at about $166,000. Jane Street Group LLC bought a new stake in Beachbody during the fourth quarter valued at about $140,000. Finally, Geode Capital Management LLC grew its stake in Beachbody by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 32,503 shares of the company's stock valued at $337,000 after purchasing an additional 1,125 shares during the last quarter. Hedge funds and other institutional investors own 74.48% of the company's stock.

Beachbody Company Profile

Beachbody is a consumer-oriented health and fitness company based in Santa Monica, California. Founded in 1998 by Carl Daikeler and Jon Congdon, the company originally gained prominence through at-home workout programs distributed on DVD. Over time, Beachbody has transitioned much of its content delivery to a subscription-based digital platform, offering on-demand streaming of exercise routines, meal plans and wellness coaching.

The company’s portfolio includes a range of branded fitness programs—such as P90X, Insanity, 21 Day Fix and Body Beast—alongside nutrition and supplement products marketed under the Beachbody Nutrition brand.

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