#1 - Beyond Meat (NASDAQ:BYND)
I haven’t been the biggest fan of Beyond Meat (NASDAQ:BYND), and there are reasons for that. However, there’s no question that plant-based foods are a major trend. And Beyond Meat is the only pure-play stock on this trend.
The company has delivered two consecutive quarters of year-over-year revenue growth in the first and second fiscal quarters of 2020. Investors will be looking to see if the company can continue that trend and also if it can start to become consistently profitable. After reporting positive earnings per share (EPS) of three cents in May, Beyond Meat’s profit turned to a negative two cents per share in its most recent quarter.
It remains to be seen if Beyond Meat will consistently deliver strong revenue as other competitors enter the sector, including some of the major packaged meat companies. However, investors that bought the stock at the beginning of the year and held onto it through the pandemic have been rewarded with a stock that has nearly doubled in price.
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.
Read More - Current Price
- $7.92
- Consensus Rating
- Strong Sell
- Ratings Breakdown
- 0 Buy Ratings, 3 Hold Ratings, 6 Sell Ratings.
- Consensus Price Target
- $5.56 (29.8% Downside)
