Beachbody (NASDAQ:BODI) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Beachbody from “buy” to “hold,” while analyst opinions remain mixed; the stock has an average “Moderate Buy” rating and a consensus price target of $15.67.
• Beachbody reported quarterly earnings of $0.32 per share, beating estimates of a $0.08 loss, and revenue of $54.28 million versus expectations of $51.77 million.
• BODI opened at $10.33, with a market capitalization of approximately $74.79 million; institutional investors and hedge funds own 74.48% of the company’s shares.

Beachbody (NASDAQ:BODI - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

A number of other research firms have also weighed in on BODI. Zacks Research lowered Beachbody from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Noble Financial reiterated an "outperform" rating on shares of Beachbody in a report on Wednesday, May 13th. Canaccord Genuity Group increased their price target on shares of Beachbody from $15.00 to $19.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Weiss Ratings raised shares of Beachbody from a "sell (d-)" rating to a "hold (c-)" rating in a report on Thursday, June 11th. Finally, Roth Capital restated a "neutral" rating and issued a $13.00 price objective on shares of Beachbody in a research report on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $15.67.

Beachbody Stock Performance

NASDAQ BODI opened at $10.33 on Friday. The company has a 50-day simple moving average of $10.21 and a two-hundred day simple moving average of $10.68. Beachbody has a 12-month low of $4.05 and a 12-month high of $16.87. The firm has a market cap of $74.79 million, a price-to-earnings ratio of 15.42 and a beta of 1.02. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 0.64.

Beachbody (NASDAQ:BODI - Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.40. Beachbody had a return on equity of 33.74% and a net margin of 2.21%.The company had revenue of $54.28 million during the quarter, compared to analyst estimates of $51.77 million. On average, equities analysts forecast that Beachbody will post 0.37 EPS for the current year.

Institutional Trading of Beachbody

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bard Associates Inc. bought a new stake in Beachbody during the 4th quarter valued at approximately $32,000. Dimensional Fund Advisors LP purchased a new position in shares of Beachbody during the 1st quarter worth approximately $111,000. Cruiser Capital Advisors LLC bought a new position in shares of Beachbody in the 3rd quarter worth approximately $117,000. Jane Street Group LLC purchased a new position in shares of Beachbody in the 4th quarter valued at approximately $140,000. Finally, North Star Investment Management Corp. purchased a new position in shares of Beachbody in the 1st quarter valued at approximately $163,000. Hedge funds and other institutional investors own 74.48% of the company's stock.

About Beachbody

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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