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

Beyond, Inc. (NYSE:BYON)’s stock price gapped down before the market opened 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.

The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the firm posted ($0.10) earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Piper Sandler cut their target price on Beyond from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. Wedbush restated an “outperform” rating and issued a $43.00 price objective on shares of Beyond in a report on Tuesday, April 30th. Maxim Group started coverage on shares of Beyond in a report on Wednesday, April 17th. They set a “buy” rating and a $50.00 target price on the stock. Compass Point initiated coverage on shares of Beyond in a research note on Thursday, February 1st. They issued a “buy” rating and a $45.00 price target for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of Beyond in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $39.00.

Beyond Trading Down 21.8 %

The firm has a market capitalization of $782.44 million, a price-to-earnings ratio of -2.56 and a beta of 3.92. The firm’s fifty day simple moving average is $29.69. The company has a quick ratio of 1.45, a current ratio of 1.51 and a debt-to-equity ratio of 0.10.

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.