Beyond Meat (NASDAQ:BYND) Releases Earnings Results

Beyond Meat (NASDAQ:BYND) posted its earnings results on Wednesday. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.03, Briefing.com reports. The business had revenue of $81.01 million during the quarter, compared to the consensus estimate of $80.13 million. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted ($1.09) EPS. Beyond Meat updated its FY 2024 guidance to EPS.

Beyond Meat Trading Down 8.0 %

NASDAQ BYND traded down $0.47 during trading hours on Friday, hitting $5.37. 5,475,797 shares of the company’s stock traded hands, compared to its average volume of 2,935,348. Beyond Meat has a 52 week low of $5.13 and a 52 week high of $12.12. The firm has a market capitalization of $349.26 million, a P/E ratio of -1.10 and a beta of 2.28. The business’s fifty day moving average price is $6.35 and its two-hundred day moving average price is $6.60.

Analyst Ratings Changes

A number of equities analysts have weighed in on BYND shares. BMO Capital Markets decreased their target price on Beyond Meat from $9.00 to $6.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Mizuho decreased their price objective on shares of Beyond Meat from $6.00 to $5.00 and set an “underperform” rating for the company in a report on Monday, August 26th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat, Beyond Meat presently has a consensus rating of “Reduce” and a consensus price target of $5.42.

Beyond Meat Company Profile

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.