Beyond (NYSE:BYON) Stock Price Down 3.1% on Disappointing Earnings

Shares of Beyond, Inc. (NYSE:BYON) were down 3.1% on Monday following a dissappointing earnings announcement. The stock traded as low as $21.55 and last traded at $21.60. Approximately 423,634 shares changed hands during trading, a decline of 70% from the average daily volume of 1,409,753 shares. The stock had previously closed at $22.28.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BYON shares. Piper Sandler lowered their target price on Beyond from $26.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday. Wedbush lowered their target price on Beyond from $43.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday. Barclays lowered their target price on Beyond from $30.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday. Maxim Group decreased their price objective on Beyond from $50.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Compass Point began coverage on Beyond in a research note on Thursday, February 1st. They set a “buy” rating and a $45.00 price objective for the company. 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 currently has an average rating of “Moderate Buy” and a consensus price target of $32.83.

Beyond Stock Down 1.2 %

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

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.