Why Beachbody Shares Are Showing Strength Today

The Beachbody Co Inc BODY is trading higher Tuesday following a 13F filing from David Einhorn's Greenlight Capital which showed a new stake in the company.

Last week, Beachbody reported a second-quarter net loss of $12.4 million versus a loss of $10 million in the same quarter last year. The company reported quarterly revenue of $223.1 million, which came in below the estimate of $260.15 million.

Beachbody said it expects full-year 2021 revenue to be in a range of $930 million to $960 million versus the estimate of $1.1 billion. 

DA Davidson analyst Linda Bolton Weiser maintained Beachbody with a Buy rating and lowered the price target from $14.50 to $11.50.

Beachbody offers streaming and live fitness and nutrition programs, as well as fitness and nutrition products.

Price Action: Beachbody has traded as high as $13.50 and as low as $6.88 since it went public in June.

At last check Tuesday, the stock was up 7.34% at $7.67.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: MoversTrading IdeasDavid Einhornwhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!