Needham & Company LLC Downgrades Beyond (NYSE:BYON) to Hold

Needham & Company LLC downgraded shares of Beyond (NYSE:BYON - Free Report) from a buy rating to a hold rating in a research note released on Wednesday morning, Marketbeat.com reports. The firm currently has $9.00 price objective on the stock.

A number of other analysts have also weighed in on the stock. Argus lowered shares of Beyond from a "hold" rating to a "sell" rating in a report on Wednesday, December 18th. Barclays dropped their target price on shares of Beyond from $8.00 to $7.00 and set an "equal weight" rating for the company in a report on Thursday, January 9th. Wedbush reiterated an "outperform" rating and set a $15.00 target price on shares of Beyond in a report on Wednesday, February 5th. Finally, Maxim Group decreased their price target on shares of Beyond from $26.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Beyond has an average rating of "Hold" and an average target price of $10.29.

Beyond Trading Up 10.5 %

NYSE BYON traded up $0.58 during trading on Wednesday, hitting $6.12. 3,349,954 shares of the company's stock traded hands, compared to its average volume of 3,440,976. The stock has a fifty day moving average of $7.02 and a two-hundred day moving average of $7.71. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 0.91. Beyond has a 12-month low of $4.45 and a 12-month high of $37.10. The firm has a market cap of $325.46 million, a P/E ratio of -0.83 and a beta of 3.91.

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Beyond (NYSE:BYON - Get Free Report) last posted its quarterly earnings results on Monday, February 24th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.17). Beyond had a negative net margin of 22.82% and a negative return on equity of 69.32%. The business had revenue of $303.15 million for the quarter, compared to analysts' expectations of $337.96 million. As a group, sell-side analysts expect that Beyond will post -3.75 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new position in Beyond during the 4th quarter valued at approximately $30,000. R Squared Ltd purchased a new stake in Beyond during the fourth quarter worth $32,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in Beyond by 68.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 6,592 shares of the company's stock valued at $32,000 after purchasing an additional 2,678 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Beyond during the fourth quarter valued at $32,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Beyond in the fourth quarter valued at about $39,000. Institutional investors 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.