Maxim Group Cuts Beyond (NYSE:BYON) Price Target to $26.00

Beyond (NYSE:BYON) had its target price lowered by analysts at Maxim Group from $33.00 to $26.00 in a report released on Friday, Briefing.com reports. The brokerage presently has a “buy” rating on the stock. Maxim Group’s price target suggests a potential upside of 288.64% from the company’s current price.

Several other research analysts also recently weighed in on the company. Wedbush cut their price target on Beyond from $37.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Bank of America lowered Beyond from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $12.50 to $6.00 in a research note on Friday. Jefferies Financial Group decreased their price target on Beyond from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Needham & Company LLC reissued a “buy” rating and issued a $13.00 target price on shares of Beyond in a research report on Wednesday. Finally, Piper Sandler lowered their price objective on shares of Beyond from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Beyond has an average rating of “Hold” and an average target price of $19.50.

Beyond Trading Down 29.7 %

Beyond stock opened at $6.69 on Friday. The stock has a 50-day moving average price of $10.30 and a 200 day moving average price of $14.09. Beyond has a 52 week low of $6.30 and a 52 week high of $37.10. The stock has a market cap of $306.07 million, a PE ratio of -0.90 and a beta of 3.65. The company has a current ratio of 1.14, a quick ratio of 1.08 and a debt-to-equity ratio of 0.14.

Beyond (NYSE:BYON) last issued its quarterly earnings results on Thursday, October 24th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.12). The firm had revenue of $311.43 million for the quarter, compared to analysts’ expectations of $351.50 million. Beyond had a negative return on equity of 49.00% and a negative net margin of 22.03%. Equities research analysts predict that Beyond will post -3.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Barclay F. Corbus acquired 5,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $10.66 per share, with a total value of $53,300.00. Following the completion of the transaction, the director now directly owns 66,668 shares of the company’s stock, valued at $710,680.88. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director William Benjamin Nettles, Jr. sold 10,412 shares of Beyond stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $9.35, for a total transaction of $97,352.20. Following the sale, the director now owns 11,368 shares of the company’s stock, valued at $106,290.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Barclay F. Corbus acquired 5,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was purchased at an average cost of $10.66 per share, with a total value of $53,300.00. Following the completion of the transaction, the director now owns 66,668 shares in the company, valued at $710,680.88. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Beyond

A number of hedge funds have recently bought and sold shares of BYON. Ashton Thomas Private Wealth LLC acquired a new stake in Beyond in the second quarter valued at $44,000. CWM LLC bought a new stake in Beyond in the second quarter valued at about $46,000. Hollencrest Capital Management acquired a new stake in Beyond during the second quarter valued at approximately $46,000. Sunbelt Securities Inc. acquired a new stake in Beyond during the second quarter valued at approximately $47,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Beyond in the 1st quarter worth approximately $66,000. Institutional investors and hedge funds 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.