Beyond (NYSE:BYON) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Beyond (NYSE:BYON) has received an upgrade from Wall Street Zen, moving its rating from "sell" to "hold" as of a Saturday report.
• Jefferies Financial Group lowered its price target on Beyond shares from $6.50 to $5.00, while Wedbush increased its target from $10.00 to $13.00, indicating mixed analyst sentiments.
• In the most recent earnings report, Beyond reported a revenue of $282.25 million, surpassing expectations, despite experiencing a 29.1% decline year-over-year.

Beyond (NYSE:BYON - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

BYON has been the subject of a number of other reports. Jefferies Financial Group dropped their target price on shares of Beyond from $6.50 to $5.00 and set a "hold" rating for the company in a report on Tuesday, April 29th. Needham & Company LLC reiterated a "hold" rating on shares of Beyond in a report on Tuesday. Barclays cut their price objective 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. Finally, Wedbush upped their target price on Beyond from $10.00 to $13.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $8.86.

Beyond Stock Performance

Shares of BYON stock opened at $8.15 on Friday. The company has a market capitalization of $467.89 million, a P/E ratio of -2.00 and a beta of 2.76. Beyond has a fifty-two week low of $3.54 and a fifty-two week high of $12.24. The stock has a 50 day moving average price of $7.52 and a two-hundred day moving average price of $6.42.

Beyond (NYSE:BYON - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.15. Beyond had a negative net margin of 17.86% and a negative return on equity of 78.27%. The company had revenue of $282.25 million for the quarter, compared to the consensus estimate of $250.37 million. During the same period in the previous year, the firm earned ($0.76) earnings per share. The firm's revenue for the quarter was down 29.1% on a year-over-year basis. As a group, equities analysts predict that Beyond will post -3.75 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC grew its stake in shares of Beyond by 140.4% in the 4th quarter. Tidal Investments LLC now owns 2,406,746 shares of the company's stock worth $11,865,000 after buying an additional 1,405,770 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Beyond by 362.8% in the fourth quarter. Two Sigma Advisers LP now owns 901,500 shares of the company's stock worth $4,444,000 after acquiring an additional 706,700 shares in the last quarter. Able Wealth Management LLC purchased a new stake in shares of Beyond in the first quarter worth $3,913,000. BNP Paribas Financial Markets increased its holdings in shares of Beyond by 654.5% during the fourth quarter. BNP Paribas Financial Markets now owns 668,415 shares of the company's stock valued at $3,295,000 after acquiring an additional 579,826 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Beyond by 390.0% in the 4th quarter. Federated Hermes Inc. now owns 728,158 shares of the company's stock worth $3,590,000 after purchasing an additional 579,565 shares during the last quarter. Hedge funds and other institutional investors own 76.30% of the company's stock.

Beyond Company Profile

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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