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

Beyond, Inc. (NYSE:BYON) traded down 3.1% during mid-day trading on Monday after the company announced weaker than expected quarterly earnings. The company traded as low as $21.55 and last traded at $21.60. 423,634 shares traded 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.30). The business had revenue of $382.28 million during 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 for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.10) EPS.

Analyst Ratings Changes

Several research firms have weighed in on BYON. Wedbush lowered their price objective on shares of Beyond from $43.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday. Maxim Group reduced their target price on shares of Beyond from $50.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday. Piper Sandler reduced their target price on shares of Beyond from $26.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday. Needham & Company LLC lowered shares of Beyond from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Barclays reduced their target price on shares of Beyond from $30.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Beyond currently has an average rating of “Moderate Buy” and an average price target of $32.83.

Beyond Trading Down 1.2 %

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

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.