Barclays Trims Beyond (NYSE:BYON) Target Price to $8.00

Beyond (NYSE:BYON - Get Free Report) had its price objective lowered by stock analysts at Barclays from $14.00 to $8.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price target points to a potential upside of 18.52% from the company's previous close.

BYON has been the topic of several other research reports. Piper Sandler lowered their price target on shares of Beyond from $14.00 to $8.00 and set a "neutral" rating on the stock in a research report on Friday. Maxim Group lowered their price target on shares of Beyond from $33.00 to $26.00 and set a "buy" rating on the stock in a research report on Friday. Needham & Company LLC reissued a "buy" rating and set a $13.00 price target on shares of Beyond in a research report on Wednesday, October 23rd. Jefferies Financial Group lowered their price target on shares of Beyond from $14.00 to $11.00 and set a "hold" rating on the stock in a research report on Monday, September 23rd. Finally, Wedbush lowered 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $16.50.

Beyond Price Performance

Shares of Beyond stock traded down $0.25 during trading hours on Tuesday, reaching $6.75. 3,254,512 shares of the company's stock were exchanged, compared to its average volume of 1,923,555. Beyond has a 1 year low of $6.06 and a 1 year high of $37.10. The company has a market capitalization of $308.81 million, a P/E ratio of -0.86 and a beta of 3.65. The business has a fifty day moving average of $10.07 and a two-hundred day moving average of $13.53. 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 - Get Free Report) last released its earnings results on Monday, July 29th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.89) by $0.13. Beyond had a negative net margin of 22.82% and a negative return on equity of 63.36%. The business had revenue of $398.10 million during the quarter, compared to analyst estimates of $381.74 million. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. The company's revenue for the quarter 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 fiscal year.

Insider Buying and Selling

In other news, Chairman Marcus Lemonis bought 156,985 shares of the business's stock in a transaction that occurred on Sunday, October 27th. The shares were purchased at an average cost of $6.37 per share, for a total transaction of $999,994.45. Following the completion of the purchase, the chairman now owns 365,530 shares of the company's stock, valued at approximately $2,328,426.10. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Beyond news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were 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 in the company, valued at $106,290.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Marcus Lemonis acquired 156,985 shares of the firm's stock in a transaction on Sunday, October 27th. The stock was bought at an average price of $6.37 per share, with a total value of $999,994.45. Following the purchase, the chairman now directly owns 365,530 shares of the company's stock, valued at $2,328,426.10. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.20% of the company's stock.

Hedge Funds Weigh In On Beyond

Several large investors have recently bought and sold shares of BYON. Tidal Investments LLC acquired a new position in Beyond in the first quarter valued at $33,599,000. Dimensional Fund Advisors LP acquired a new position in Beyond in the second quarter valued at $9,538,000. Refined Wealth Management acquired a new position in Beyond in the second quarter valued at $4,201,000. ProShare Advisors LLC purchased a new stake in shares of Beyond in the second quarter valued at about $3,800,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Beyond in the first quarter valued at about $8,956,000. 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.