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

Beyond (NYSE:BYON - Get Free Report) had its price target lowered by investment analysts at Piper Sandler from $14.00 to $8.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Piper Sandler's price objective indicates a potential upside of 25.59% from the stock's current price.

Other equities analysts have also issued reports about the company. Barclays reduced their price objective on Beyond from $22.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Friday, July 26th. Needham & Company LLC reiterated a "buy" rating and set a $13.00 price objective on shares of Beyond in a research report on Wednesday. Jefferies Financial Group reduced their price target on Beyond from $14.00 to $11.00 and set a "hold" rating on the stock in a research report on Monday, September 23rd. Maxim Group reduced their price target on Beyond from $33.00 to $26.00 and set a "buy" rating on the stock in a research report on Friday. Finally, Wedbush reduced their price target on Beyond from $25.00 to $15.00 and set an "outperform" rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Beyond currently has a consensus rating of "Hold" and an average target price of $17.50.

Beyond Price Performance

Shares of NYSE:BYON traded down $0.32 on Friday, hitting $6.37. The company's stock had a trading volume of 6,741,561 shares, compared to its average volume of 1,897,224. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.14 and a quick ratio of 1.08. The company has a market capitalization of $291.43 million, a PE ratio of -0.86 and a beta of 3.65. The company has a 50-day simple moving average of $10.23 and a 200 day simple moving average of $14.04. Beyond has a 1 year low of $6.06 and a 1 year high of $37.10.

Beyond (NYSE:BYON - Get Free Report) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.13. The firm had revenue of $398.10 million for the quarter, compared to analyst estimates of $381.74 million. Beyond had a negative return on equity of 49.00% and a negative net margin of 22.03%. The company's revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.02) EPS. Sell-side analysts forecast that Beyond will post -3.55 EPS for the current fiscal year.

Insider Transactions at Beyond

In other Beyond news, Director Barclay F. Corbus acquired 5,000 shares of the business's stock in a transaction dated Thursday, August 1st. The shares were purchased at an average cost of $10.66 per share, for a total transaction 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the firm'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 completion of the transaction, the director now owns 11,368 shares in the company, valued at $106,290.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Barclay F. Corbus bought 5,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was purchased at an average price 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 $710,680.88. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BYON. American International Group Inc. purchased a new position in Beyond during the first quarter valued at $799,000. CANADA LIFE ASSURANCE Co purchased a new position in Beyond during the first quarter valued at $157,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Beyond during the first quarter valued at $8,956,000. Shell Asset Management Co. purchased a new position in Beyond during the first quarter valued at $2,271,000. Finally, Lazard Asset Management LLC purchased a new position in Beyond during the first quarter valued at $70,000. Hedge funds and other 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.