BMO Capital Markets Lowers Beyond Meat (NASDAQ:BYND) Price Target to $4.00
BMO Capital Markets has lowered its price target for Beyond Meat (NASDAQ:BYND) from $5.00 to $4.00, maintaining a "market perform" rating. This adjustment suggests a potential upside of 43.37% from the current stock price of $2.79. Additionally, Barclays has reduced its price target for Beyond Meat from $3.00 to $2.00, assigning an "underweight" rating. Beyond Meat reported a loss of $0.43 per share for the last quarter, missing estimates, with revenue down 19.5% year-over-year.
Beyond Meat (NASDAQ:BYND - Get Free Report) had its price objective lowered by BMO Capital Markets from $5.00 to $4.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "market perform" rating on the stock. BMO Capital Markets' price objective indicates a potential upside of 43.37% from the stock's current price.
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Separately, Barclays decreased their price objective on Beyond Meat from $3.00 to $2.00 and set an "underweight" rating on the stock in a research note on Thursday, May 8th.
Get Our Latest Report on BYND
Beyond Meat Price Performance
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NASDAQ BYND opened at $2.79 on Thursday. The company has a market cap of $213.85 million, a P/E ratio of -1.28 and a beta of 2.22. The stock has a 50-day moving average of $3.36 and a two-hundred day moving average of $3.23. Beyond Meat has a 1-year low of $2.22 and a 1-year high of $7.60.
Beyond Meat (NASDAQ:BYND - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.06). The company had revenue of $74.96 million during the quarter, compared to analysts' expectations of $85.71 million. During the same period last year, the firm posted ($0.53) EPS. The firm's revenue was down 19.5% compared to the same quarter last year. On average, analysts anticipate that Beyond Meat will post -2.1 EPS for the current fiscal year.
Institutional Trading of Beyond Meat
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Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC grew its stake in shares of Beyond Meat by 5,060.0% in the 1st quarter. SG Americas Securities LLC now owns 1,187,011 shares of the company's stock valued at $3,620,000 after purchasing an additional 1,164,007 shares during the period. Vontobel Holding Ltd. boosted its position in shares of Beyond Meat by 35.0% in the 1st quarter. Vontobel Holding Ltd. now owns 1,758,904 shares of the company's stock worth $5,365,000 after purchasing an additional 455,963 shares during the last quarter. Millennium Management LLC lifted its holdings in Beyond Meat by 73.8% during the fourth quarter. Millennium Management LLC now owns 619,957 shares of the company's stock worth $2,331,000 after acquiring an additional 263,337 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Beyond Meat by 15.7% during the second quarter. Geode Capital Management LLC now owns 1,843,998 shares of the company's stock worth $6,437,000 after acquiring an additional 250,628 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Beyond Meat in the 4th quarter valued at about $796,000. Institutional investors own 52.48% of the company's stock.
About Beyond Meat
(Get Free Report)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.
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