Beyond (NYSE:BYON) Receives Hold Rating from Needham & Company LLC

Key Points

• Needham & Company LLC has reiterated a "hold" rating for Beyond's stock (NYSE:BYON), which has seen varied price target adjustments from other research firms in recent months.
• In its latest earnings report, Beyond posted a loss of ($0.22) EPS, surpassing analysts' expectations, but experienced a significant year-over-year revenue decline of 29.1%.
• As of now, the stock has a market capitalization of $596.41 million and is owned 76.30% by hedge funds and institutional investors, reflecting strong institutional backing.

Needham & Company LLC restated their hold rating on shares of Beyond (NYSE:BYON - Free Report) in a report published on Tuesday,Benzinga reports.

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

Beyond Stock Down 5.5%

BYON stock traded down $0.53 during trading on Tuesday, reaching $9.13. The company's stock had a trading volume of 3,739,042 shares, compared to its average volume of 3,507,279. Beyond has a 1 year low of $3.54 and a 1 year high of $12.32. The company has a market capitalization of $526.62 million, a P/E ratio of -2.24 and a beta of 3.25. The company's fifty day moving average is $7.41 and its 200-day moving average is $6.38.

Beyond (NYSE:BYON - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.37) by $0.15. Beyond had a negative return on equity of 74.03% and a negative net margin of 17.86%. The business had revenue of $282.25 million during the quarter, compared to analyst estimates of $250.37 million. During the same quarter in the prior year, the business posted ($0.76) EPS. Beyond's revenue for the quarter was down 29.1% compared to the same quarter last year. Analysts anticipate that Beyond will post -3.75 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. PFG Investments LLC bought a new stake in Beyond in the first quarter worth about $464,000. Wedbush Securities Inc. lifted its stake in Beyond by 950.1% in the fourth quarter. Wedbush Securities Inc. now owns 132,023 shares of the company's stock worth $651,000 after purchasing an additional 119,450 shares during the last quarter. Able Wealth Management LLC bought a new stake in Beyond in the first quarter worth about $3,913,000. Two Sigma Investments LP lifted its stake in Beyond by 75.1% in the fourth quarter. Two Sigma Investments LP now owns 916,178 shares of the company's stock worth $4,517,000 after purchasing an additional 392,977 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in Beyond in the first quarter worth about $318,000. 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.