Mizuho Issues Pessimistic Forecast for Beyond Meat (NASDAQ:BYND) Stock Price

Key Points

• Mizuho has lowered its price target for Beyond Meat's stock from $2.00 to $1.50, indicating a potential downside of 50.74% from the previous close.
• The stock has been rated as "underperform" by Mizuho and has a consensus rating of "Strong Sell" among analysts, with an average target price of $2.08.
• Beyond Meat reported disappointing quarterly earnings, missing analysts' expectations with a revenue of $74.96 million, compared to estimates of $85.71 million, reflecting a 19.5% year-over-year decline.

Beyond Meat (NASDAQ:BYND - Get Free Report) had its price target reduced by investment analysts at Mizuho from $2.00 to $1.50 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "underperform" rating on the stock. Mizuho's price target would indicate a potential downside of 50.74% from the company's previous close.

Several other research analysts have also recently commented on the company. BTIG Research reissued a "neutral" rating on shares of Beyond Meat in a research report on Tuesday, September 30th. Cowen reissued a "sell" rating on shares of Beyond Meat in a research report on Tuesday, October 14th. BMO Capital Markets reduced their price target on Beyond Meat from $5.00 to $4.00 and set a "market perform" rating for the company in a research report on Thursday, August 14th. Argus cut Beyond Meat from a "hold" rating to a "sell" rating in a research report on Monday, September 15th. Finally, JPMorgan Chase & Co. began coverage on Beyond Meat in a research report on Wednesday, August 20th. They set an "underweight" rating for the company. Two research analysts have rated the stock with a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat.com, Beyond Meat presently has a consensus rating of "Strong Sell" and an average target price of $2.08.

Beyond Meat Stock Performance

NASDAQ:BYND opened at $3.05 on Friday. The company has a market cap of $233.70 million, a PE ratio of -1.36 and a beta of 2.33. Beyond Meat has a 52-week low of $0.50 and a 52-week high of $7.69. The stock has a 50-day simple moving average of $2.34 and a 200 day simple moving average of $2.81.

Beyond Meat (NASDAQ:BYND - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.06). The company had revenue of $74.96 million during the quarter, compared to analyst estimates of $85.71 million. The business's quarterly revenue was down 19.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.53) EPS. On average, research analysts predict that Beyond Meat will post -2.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Apollon Wealth Management LLC acquired a new stake in Beyond Meat during the 1st quarter worth approximately $31,000. Pitcairn Co. acquired a new stake in Beyond Meat during the 2nd quarter worth approximately $37,000. Chiron Capital Management LLC acquired a new stake in Beyond Meat during the 1st quarter worth approximately $38,000. Regatta Capital Group LLC acquired a new stake in Beyond Meat during the 3rd quarter worth approximately $38,000. Finally, Rathbones Group PLC acquired a new stake in Beyond Meat during the 2nd quarter worth approximately $40,000. 52.48% of the stock is currently owned by institutional investors.

About Beyond Meat

Beyond Meat, Inc, a plant-based meat company, develops, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across the platforms of beef, pork, and poultry. It sells its products through grocery, mass merchandiser, club stores, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.