7 Stocks It May Be Time To Take Profits On - 1 of 7

#1 - Beyond Meat (NASDAQ:BYND)

Beyond Meat (NASDAQ:BYND) has seen its stock rise as much as 157% in 2020. The manufacturer of plant-based meat products has been a clear pandemic winner. The cost of beef skyrocketed as meat processing plants were shut down due to the virus. This helped the company overcome one of the key obstacles it faces, getting initial trials.

However, it seems that the run is over. BYND stock is down nearly 10% in the last two weeks. And the stock just received a rare double downgrade from Barclays analyst Benjamin Theure, which effectively turned the stock from a buy to a sell.

The stock currently has 9 sell rating and 8 hold ratings to go with only 4 buy ratings. And with a price target of $119.30, analysts believe the stock may fall by over 33% in the next 12 months. At issue is the company’s push into the foodservice space. Analysts are concerned that this sector may not recover as robustly as expected in 2021.

In its last quarter, Beyond Meat reported higher year-over-year (YOY) revenue but shrinking YOY earnings. This pattern of growing revenue with shrinking profits has been a broad concern of analysts.

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

$6.49

Consensus Rating

Strong Sell

Ratings Breakdown

0 Buy Ratings, 2 Hold Ratings, 5 Sell Ratings.

Consensus Price Target

$6.67 (2.7% Upside)