Beyond, Inc. (NYSE:BYON) Receives Consensus Recommendation of “Hold” from Analysts

Beyond, Inc. (NYSE:BYON) has been assigned an average recommendation of “Hold” from the eight research firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $12.29.

Several brokerages have commented on BYON. Barclays dropped their price target on shares of Beyond from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 9th. Wedbush reiterated an “outperform” rating and issued a $15.00 price target on shares of Beyond in a research report on Wednesday, February 5th. Argus downgraded Beyond from a “hold” rating to a “sell” rating in a report on Wednesday, December 18th. Bank of America downgraded Beyond from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $12.50 to $6.00 in a report on Friday, October 25th. Finally, Piper Sandler cut their price objective on Beyond from $14.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, October 25th.

Hedge Funds Weigh In On Beyond

A number of hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its stake in shares of Beyond by 1.0% during the 4th quarter. Bank of New York Mellon Corp now owns 136,405 shares of the company’s stock worth $672,000 after purchasing an additional 1,292 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Beyond by 8.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,818 shares of the company’s stock worth $233,000 after purchasing an additional 1,348 shares in the last quarter. Fortis Group Advisors LLC raised its stake in shares of Beyond by 14.4% during the 3rd quarter. Fortis Group Advisors LLC now owns 13,689 shares of the company’s stock worth $138,000 after purchasing an additional 1,724 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Beyond by 12.8% during the 3rd quarter. Franklin Resources Inc. now owns 21,299 shares of the company’s stock worth $217,000 after purchasing an additional 2,411 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of Beyond by 68.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 6,592 shares of the company’s stock worth $32,000 after purchasing an additional 2,678 shares in the last quarter. 76.30% of the stock is owned by institutional investors and hedge funds.

Beyond Price Performance

Shares of Beyond stock opened at $8.84 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average price is $6.46 and its two-hundred day moving average price is $8.02. Beyond has a 52 week low of $4.45 and a 52 week high of $37.10. The stock has a market cap of $406.85 million, a PE ratio of -1.20 and a beta of 3.81.

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.