Beyond (NYSE:BYON) Stock Price Expected to Rise, Wedbush Analyst Says

Beyond (NYSE:BYON - Get Free Report) had its price objective lifted by investment analysts at Wedbush from $10.00 to $13.00 in a report issued on Tuesday, MarketBeat Ratings reports. The firm presently has an "outperform" rating on the stock. Wedbush's price objective suggests a potential upside of 20.49% from the company's previous close.

BYON has been the topic of a number of other reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Beyond in a research report on Wednesday, April 30th. Barclays lowered their price objective on shares of Beyond from $7.00 to $5.00 and set an "equal weight" rating on the stock 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 on the stock in a research note 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. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $8.86.

Beyond Stock Performance

NYSE BYON traded down $0.54 during trading on Tuesday, reaching $10.79. The company's stock had a trading volume of 2,851,966 shares, compared to its average volume of 3,514,384. The firm has a 50 day moving average price of $7.06 and a 200 day moving average price of $6.24. Beyond has a 12 month low of $3.54 and a 12 month high of $15.44.

Beyond (NYSE:BYON - Get Free Report) last issued its earnings results on Monday, April 28th. The company reported ($0.42) earnings per share for the quarter, beating analysts' consensus estimates of ($0.67) by $0.25. The firm had revenue of $231.75 million for the quarter, compared to analyst estimates of $288.13 million. Beyond had a negative net margin of 18.06% and a negative return on equity of 77.61%. The company's quarterly revenue was down 39.4% on a year-over-year basis. During the same quarter last year, the business posted ($1.22) earnings per share. 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 company. Bank of New York Mellon Corp raised its position in shares of Beyond by 1.0% in the 4th quarter. Bank of New York Mellon Corp now owns 136,405 shares of the company's stock worth $672,000 after purchasing an additional 1,292 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Beyond during the 4th quarter valued at about $578,000. HighTower Advisors LLC raised its holdings in Beyond by 16.0% in the fourth quarter. HighTower Advisors LLC now owns 91,628 shares of the company's stock worth $452,000 after buying an additional 12,610 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Beyond by 54.5% in the fourth quarter. Intech Investment Management LLC now owns 23,632 shares of the company's stock worth $117,000 after buying an additional 8,335 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Beyond during the fourth quarter valued at approximately $39,000. Institutional investors own 76.30% of the company's stock.

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.