Wall Street Zen Upgrades Beyond (NYSE:BYON) to "Hold"

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.

Wall Street Zen upgraded shares of Beyond (NYSE:BYON - Free Report) from a sell rating to a hold rating in a report published on Saturday morning.

Other equities research analysts also recently issued reports about the company. Barclays dropped their target price on Beyond from $7.00 to $5.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Jefferies Financial Group reduced their price objective on Beyond from $6.50 to $5.00 and set a "hold" rating for the company in a research report on Tuesday, April 29th. Needham & Company LLC reiterated a "hold" rating on shares of Beyond in a research report on Tuesday, July 29th. Finally, Wedbush upped their price target on Beyond from $10.00 to $13.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $8.86.

Beyond Trading Up 4.5%

Shares of BYON stock traded up $0.36 during trading hours on Friday, reaching $8.33. The company's stock had a trading volume of 1,249,996 shares, compared to its average volume of 3,207,283. The stock has a market capitalization of $478.17 million, a P/E ratio of -2.05 and a beta of 2.76. Beyond has a one year low of $3.54 and a one year high of $12.24. The firm's fifty day simple moving average is $7.57 and its 200 day simple moving average is $6.44.

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

Institutional Investors Weigh In On Beyond

Institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its stake in shares of Beyond by 85.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,629 shares of the company's stock valued at $25,000 after purchasing an additional 1,669 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Beyond by 104.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,531 shares of the company's stock valued at $32,000 after purchasing an additional 2,823 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Beyond in the 4th quarter valued at approximately $32,000. KLP Kapitalforvaltning AS bought a new stake in shares of Beyond in the 4th quarter valued at approximately $39,000. Finally, Pingora Partners LLC bought a new stake in shares of Beyond in the 4th quarter valued at approximately $41,000. 76.30% of the stock is owned by institutional investors.

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.