Beyond (NYSE:BYON) Shares Gap Down Following Weak Earnings

Beyond, Inc. (NYSE:BYON)’s share price gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $21.89, but opened at $17.77. Beyond shares last traded at $16.63, with a volume of 1,745,257 shares changing hands.

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

Wall Street Analysts Forecast Growth

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

Beyond Price Performance

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

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.