#2 - Beyond Meat (NASDAQ:BYND)
Beyond Meat (BYND) - Beyond Meat (NASDAQ:BYND) has been on a rollercoaster ride since it launched its initial public offering (IPO) in 2019. The main concern I have with BYND stock is that it is the only pure-play for investors to invest in the plant-based food movement. However, there are two sides to that coin. On the one hand, plant-based protein does not appear to be going away. On the other hand, Beyond Meat never really had a moat in the sector. And any moat it did enjoy is quickly eroding. So when you look at the company, you see a sector that is filling up with competitors, a product that was just taken off the Tim Hortons (NYSE:THI) menu after a so-so trial (the company would not have taken it off the menu if the trial had gone gangbusters), and a stock that many feels is overvalued. Beyond Meat was one of the first through the door on a movement that may be one of the defining trends of this decade. But that’s not a reason to reward the stock at its current levels.
About Beyond Meat
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.
More- Current Price
- $3.84
- Consensus Rating
- Reduce
- Ratings Breakdown
- 0 Buy Ratings, 3 Hold Ratings, 3 Sell Ratings.
- Consensus Price Target
- $5.50 (43.2% Upside)
