Beyond Meat (NASDAQ:BYND) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Beyond Meat (NASDAQ:BYND) posted its quarterly earnings data on Wednesday. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.05), RTT News reports. The company had revenue of $75.60 million for the quarter, compared to the consensus estimate of $75.24 million. The company’s revenue was down 18.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.92) earnings per share.

Beyond Meat Price Performance

Shares of NASDAQ:BYND traded down $0.07 during trading on Wednesday, reaching $8.21. 3,705,061 shares of the company were exchanged, compared to its average volume of 3,148,294. The firm has a market capitalization of $531.02 million, a PE ratio of -1.56 and a beta of 2.42. The business’s fifty day simple moving average is $7.67 and its 200-day simple moving average is $7.58. Beyond Meat has a 12-month low of $5.58 and a 12-month high of $19.25.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BYND shares. TD Cowen reduced their price objective on Beyond Meat from $10.00 to $6.00 and set a “sell” rating for the company in a research note on Wednesday, April 17th. Mizuho decreased their price objective on Beyond Meat from $7.00 to $6.00 and set an “underperform” rating on the stock in a research note on Monday, April 22nd. Argus upgraded Beyond Meat from a “sell” rating to a “hold” rating in a research note on Thursday, February 29th. Finally, BMO Capital Markets raised their target price on shares of Beyond Meat from $7.00 to $10.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 28th. Five equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat.com, Beyond Meat has an average rating of “Reduce” and an average target price of $5.83.

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.