Beyond (NYSE:BYON) Releases Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Key Points

• Beyond (NYSE:BYON) reported earnings of ($0.22) EPS for the quarter, beating estimates by $0.15, despite a negative net margin of 18.06%.
• After the earnings release, Beyond's shares increased by 2.5%, reaching a price of $10.34, with a market capitalization of $596.40 million.
• Analysts have mixed views on Beyond, with price targets ranging from $5.00 to $13.00 and a consensus rating of "Hold".

Beyond (NYSE:BYON - Get Free Report) announced its earnings results on Monday. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.15, Zacks reports. Beyond had a negative net margin of 18.06% and a negative return on equity of 77.61%.

Beyond Trading Up 2.5%

Shares of Beyond stock traded up $0.25 during trading on Monday, hitting $10.34. 2,895,142 shares of the stock were exchanged, compared to its average volume of 3,178,054. The company has a fifty day moving average price of $7.22 and a 200-day moving average price of $6.31. The stock has a market capitalization of $596.40 million, a price-to-earnings ratio of -2.22 and a beta of 3.25. Beyond has a 1-year low of $3.54 and a 1-year high of $15.44.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Strs Ohio bought a new stake in shares of Beyond in the 1st quarter valued at $151,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Beyond by 30.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,512 shares of the company's stock valued at $386,000 after purchasing an additional 15,707 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Beyond by 217.4% in the first quarter. AQR Capital Management LLC now owns 131,501 shares of the company's stock valued at $763,000 after buying an additional 90,076 shares in the last quarter. Institutional investors and hedge funds own 76.30% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Barclays cut their price target on Beyond from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. Jefferies Financial Group decreased their price objective on shares of Beyond from $6.50 to $5.00 and set a "hold" rating on the stock in a research report on Tuesday, April 29th. Needham & Company LLC reiterated a "hold" rating on shares of Beyond in a report on Wednesday, April 30th. Finally, Wedbush upped their price objective on shares of Beyond from $10.00 to $13.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $8.86.

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.

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