Beyond Stock Tanks On Worse-Than-Expected Q1 Results
Portfolio Pulse from Erica Kollmann
Beyond, Inc. (NYSE:BYON) shares fell after reporting Q1 results that missed analyst expectations. The company reported a loss of $1.22 per share against an expected loss of 87 cents, and sales of $382.281 million versus the expected $389.264 million. Despite this, Beyond saw a 27% year-over-year increase in orders and a 26% increase in active customers. The company is focusing on building a profitable brand portfolio, aiming to transform its business model. Analysts have a mixed outlook, with an average 12-month price target of $37, suggesting potential upside.
May 07, 2024 | 5:10 pm
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NEUTRAL IMPACT
Beyond, Inc. reported disappointing Q1 results, with both earnings and sales missing analyst estimates. However, the company showed significant growth in orders and active customers. Analysts have a positive but cautious outlook on the stock.
The short-term impact on BYON's stock price is likely neutral due to the mixed nature of the Q1 report. While the financial results were below expectations, the growth in orders and active customers is positive. Analysts' mixed ratings and the average price target suggest some optimism, but the recent performance and the earnings miss may temper immediate gains.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100