The Beachbody Company, Inc. (NASDAQ:BODI) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts give Beachbody a “Moderate Buy” consensus, split evenly between three buy and three hold ratings. The average 12-month price target is $15.67, implying potential upside from the $10.33 share price.
• Beachbody shares were trading up 3.4%, while the company reported quarterly EPS of $0.32, beating the $0.08 loss expected by analysts, and revenue of $54.28 million versus a $51.77 million consensus estimate.
• Institutional investors own 74.48% of the stock, with Renaissance Technologies nearly doubling its stake during the first quarter and several other funds initiating or expanding positions.

Shares of The Beachbody Company, Inc. (NASDAQ:BODI - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six research firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $15.6667.

Several equities research analysts recently weighed in on BODI shares. Canaccord Genuity Group upped their price objective on shares of Beachbody from $15.00 to $19.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Zacks Research downgraded shares of Beachbody from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Weiss Ratings upgraded shares of Beachbody from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Thursday, June 11th. Noble Financial restated an "outperform" rating on shares of Beachbody in a research report on Wednesday, May 13th. Finally, Roth Capital restated a "neutral" rating and set a $13.00 target price on shares of Beachbody in a research note on Wednesday, May 13th.

Beachbody Trading Up 3.4%

Shares of NASDAQ:BODI opened at $10.33 on Friday. The business's 50 day simple moving average is $10.21 and its 200 day simple moving average is $10.68. Beachbody has a 1 year low of $4.05 and a 1 year high of $16.87. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.76 and a quick ratio of 0.64. The company has a market capitalization of $74.79 million, a P/E ratio of 15.42 and a beta of 1.02.

Beachbody (NASDAQ:BODI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.40. The firm had revenue of $54.28 million during the quarter, compared to analysts' expectations of $51.77 million. Beachbody had a return on equity of 33.74% and a net margin of 2.21%. On average, research analysts anticipate that Beachbody will post 0.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC raised its stake in Beachbody by 94.9% during the first quarter. Renaissance Technologies LLC now owns 102,864 shares of the company's stock worth $1,117,000 after acquiring an additional 50,095 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Beachbody by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 32,503 shares of the company's stock valued at $337,000 after purchasing an additional 1,125 shares during the last quarter. Evernest Financial Advisors LLC acquired a new position in Beachbody during the 1st quarter worth approximately $316,000. Cruiser Capital Advisors LLC bought a new position in Beachbody in the 3rd quarter valued at approximately $117,000. Finally, State Street Corp acquired a new stake in Beachbody in the fourth quarter valued at approximately $166,000. Institutional investors own 74.48% of the company's stock.

Beachbody Company Profile

Beachbody is a consumer-oriented health and fitness company based in Santa Monica, California. Founded in 1998 by Carl Daikeler and Jon Congdon, the company originally gained prominence through at-home workout programs distributed on DVD. Over time, Beachbody has transitioned much of its content delivery to a subscription-based digital platform, offering on-demand streaming of exercise routines, meal plans and wellness coaching.

The company’s portfolio includes a range of branded fitness programs—such as P90X, Insanity, 21 Day Fix and Body Beast—alongside nutrition and supplement products marketed under the Beachbody Nutrition brand.

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