Beyond Stock Tanks On Worse-Than-Expected Q1 Results

Beyond, Inc. BYON shares are trading lower Tuesday after the company posted worse-than-expected first-quarter financial results. Here's a look at the key figures from the report. 

The Details:

Beyond reported quarterly losses of $1.22 per share which missed the analyst consensus estimate of losses of 87 cents by 40.23%. 

Quarterly sales came in at $382.281 million which missed the analyst consensus estimate of $389.264 million by 1.79%. 

The company delivered 2.2 million orders in the first quarter, an increase of 27% year-over-year and reported 6 million active customers, an increase of 26% year-over-year. 

“2024 has begun with a strong strategic focus on building a portfolio of profitable brands designed to drive high customer affinity and lifetime value,” said Marcus Lemonis, Executive Chairman of the Board. “We are now 120 days into this new era for the company, building a foundation that will cause the next ten years to look materially different from the last ten, while deepening my conviction in our vision: to become the ‘AAA of Home’ – offering solutions for everything within the four walls of your home and extending to the four corners of your property."

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Will BYON Stock Go Up?

When trying to assess whether or not Beyond will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $37 on Beyond. The Street high target is currently at $50 and the Street low target is $26. Of all the analysts covering Beyond, 8 have positive ratings, 3 have neutral ratings and no one has negative ratings.

In the last month, 5 analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Beyond have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Beyond is 17.42% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about Beyond, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

BYON Price Action: According to Benzinga Pro, Beyond shares are down 22% at $17.07 at the time of publication Tuesday.

Image: Mohamed Hassan from Pixabay