Beyond Meat Q3 Earnings Preview: Will Analysts Regain Their Appetite For The Stock?
Portfolio Pulse from Surbhi Jain
Beyond Meat Inc (NASDAQ:BYND) is set to report its Q3 earnings on Nov. 8. The company's financial position is challenging with a high cash burn rate, declining revenue, and $1.14 billion in convertible notes maturing in 2027. The stock is down about 50% over the past year and has a high short interest of over 40%. Analysts expect the company to report a negative 89 cents in EPS and $85.37 million in revenue. Recent price targets for the stock range between $3 and $5.
November 08, 2023 | 5:41 pm
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Beyond Meat's financial challenges and high short interest indicate a bearish outlook. The company's Q3 earnings report could further impact the stock, especially if it fails to meet analysts' expectations.
Beyond Meat's stock has been on a downward trend, losing about 50% of its value over the past year. The company's financial challenges, including a high cash burn rate and declining revenue, are concerning for investors. Additionally, the high short interest indicates that many investors expect the stock's price to decrease further. The upcoming Q3 earnings report could exacerbate these issues, especially if the company fails to meet analysts' expectations.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100