The Beachbody Company, Inc. (NASDAQ:BODI) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Beachbody has an average analyst rating of “Moderate Buy” from six covering firms, with three buy ratings and three hold ratings. The consensus 12-month price target is about $15.67.
• The company recently reported better-than-expected quarterly results, posting earnings of $0.32 per share versus estimates for a loss of $0.08, on revenue of $54.28 million compared with expectations of $51.77 million.
• Institutional ownership is high, with hedge funds and other institutional investors holding about 74.48% of the stock. Recent buying activity included new positions from several funds, while Beachbody’s shares opened at $11.16 amid a market cap of roughly $80.8 million.

The Beachbody Company, Inc. (NASDAQ:BODI - Get Free Report) has been given an average rating of "Moderate Buy" by the six ratings firms that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $15.6667.

Several equities analysts recently weighed in on BODI shares. Canaccord Genuity Group lifted their target price on shares of Beachbody from $15.00 to $19.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Zacks Research downgraded Beachbody from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Roth Capital reissued a "neutral" rating and issued a $13.00 price objective on shares of Beachbody in a research report on Wednesday, May 13th. Noble Financial restated an "outperform" rating on shares of Beachbody in a research note on Wednesday, May 13th. Finally, Wall Street Zen raised Beachbody from a "hold" rating to a "buy" rating in a research report on Sunday, June 28th.

Beachbody Price Performance

BODI opened at $11.16 on Wednesday. The firm has a 50 day moving average price of $10.59 and a 200 day moving average price of $10.63. The company has a market cap of $80.80 million, a PE ratio of 16.66 and a beta of 1.01. Beachbody has a 1 year low of $3.76 and a 1 year high of $16.87. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.64 and a current ratio of 0.76.

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

Hedge Funds Weigh In On Beachbody

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in shares of Beachbody by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 32,503 shares of the company's stock worth $337,000 after purchasing an additional 1,125 shares in the last quarter. Bard Associates Inc. purchased a new stake in Beachbody during the 4th quarter worth $32,000. Dimensional Fund Advisors LP acquired a new position in Beachbody in the 1st quarter worth $111,000. Jane Street Group LLC acquired a new position in Beachbody in the 4th quarter worth $140,000. Finally, North Star Investment Management Corp. purchased a new position in Beachbody in the 1st quarter valued at about $163,000. Hedge funds and other institutional investors own 74.48% of the company's stock.

About Beachbody

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.