Beyond (NYSE:BYON) Shares Down 3.1% After Earnings Miss

Beyond, Inc. (NYSE:BYON)’s share price traded down 3.1% on Monday after the company announced weaker than expected quarterly earnings. The stock traded as low as $21.55 and last traded at $21.60. 423,634 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 1,409,753 shares. The stock had previously closed at $22.28.

The company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.30). The company had revenue of $382.28 million for the quarter, compared to the consensus estimate of $389.36 million. Beyond had a negative net margin of 19.72% and a negative return on equity of 16.92%. The business’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.10) earnings per share.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BYON shares. Piper Sandler decreased their target price on Beyond from $26.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday. Barclays dropped their target price on Beyond from $30.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday. Needham & Company LLC lowered Beyond from a “buy” rating to a “hold” rating in a report on Wednesday. Compass Point started coverage on Beyond in a report on Thursday, February 1st. They set a “buy” rating and a $45.00 price target on the stock. Finally, Wedbush dropped their price target on Beyond from $43.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Beyond presently has an average rating of “Moderate Buy” and a consensus target price of $32.83.

Beyond Stock Down 1.2 %

The stock has a market capitalization of $746.54 million, a price-to-earnings ratio of -2.40 and a beta of 3.92. The company has a quick ratio of 1.45, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The stock has a 50-day simple moving average of $29.37.

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.