Piper Sandler Cuts Beyond (NYSE:BYON) Price Target to $8.00

Beyond (NYSE:BYON) had its target price decreased by equities research analysts at Piper Sandler from $14.00 to $8.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 25.59% from the stock’s previous close.

Several other brokerages have also recently commented on BYON. Needham & Company LLC reiterated a “buy” rating and set a $13.00 target price on shares of Beyond in a research report on Wednesday. Bank of America lowered Beyond from a “neutral” rating to an “underperform” rating and cut their target price for the company from $12.50 to $6.00 in a research note on Friday. Barclays decreased their target price on Beyond from $22.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, July 26th. Wedbush cut their price target on shares of Beyond from $25.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Maxim Group decreased their price objective on shares of Beyond from $33.00 to $26.00 and set a “buy” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.50.

Beyond Trading Down 4.8 %

Shares of BYON opened at $6.37 on Friday. The stock’s fifty day simple moving average is $10.14 and its 200-day simple moving average is $13.77. The firm has a market capitalization of $291.43 million, a PE ratio of -0.86 and a beta of 3.65. Beyond has a 12-month low of $6.06 and a 12-month high of $37.10. The company has a quick ratio of 1.08, a current ratio of 1.14 and a debt-to-equity ratio of 0.14.

Beyond (NYSE:BYON) last released its earnings results on Monday, July 29th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.13. Beyond had a negative net margin of 22.03% and a negative return on equity of 49.00%. The company had revenue of $398.10 million for the quarter, compared to the consensus estimate of $381.74 million. During the same period in the prior year, the company posted ($0.02) EPS. The company’s revenue was down 5.7% compared to the same quarter last year. As a group, research analysts predict that Beyond will post -3.55 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BYON. American International Group Inc. bought a new stake in Beyond during the 1st quarter worth about $799,000. CANADA LIFE ASSURANCE Co acquired a new position in Beyond in the 1st quarter valued at about $157,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Beyond during the first quarter worth approximately $8,956,000. Shell Asset Management Co. acquired a new stake in shares of Beyond during the first quarter worth $2,271,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Beyond in the first quarter valued at about $70,000. Institutional investors own 76.30% of the company’s stock.

Beyond Company Profile

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.