Mon Sep 23 23:13:26 UTC 2024: ## Beyond (BYON) Stock Sees Price Target Cuts, Despite Recent Earnings Beat
**New York, NY** – Beyond (NYSE:BYON), the online retailer of furniture and home furnishings, has seen its price target lowered by several analysts, despite reporting better-than-expected earnings in the last quarter.
Jefferies Financial Group reduced its target price from $14.00 to $11.00, maintaining a “hold” rating on the stock. This suggests a potential upside of 10.33% from the current price.
Other analysts have also lowered their price targets, including Barclays, Wedbush, Piper Sandler, and Bank of America. The average price target among analysts now sits at $25.25, with a “Hold” rating overall.
Despite the lowered targets, Beyond exceeded analysts’ earnings estimates in the second quarter, reporting a loss of $0.76 per share, compared to the expected loss of $0.89. Revenue for the quarter came in at $398.10 million, beating the estimated $381.74 million.
However, the company’s revenue declined 5.7% year-over-year. The stock is currently owned by 76.30% of institutional investors.
Recent insider trading activity includes Director William Benjamin Nettles, Jr. selling 10,412 shares, while Director Barclay F. Corbus bought 5,000 shares.
Analysts forecast Beyond to post a loss of $3.54 per share for the current year.
While Beyond’s recent earnings beat offers some optimism, the lowering of price targets by multiple analysts indicates a cautious outlook for the company’s future performance.
First Piper 