Beyond Meat Inc [BYND] stock is trading at $8.22, up 3.66%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The BYND shares have gain 3.27% over the last week, with a monthly amount glided 10.34%, and seem to be holding up well over a long-time horizon.
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On 27, February 2024, Beyond Meat® Reports Fourth Quarter and Full Year 2023 Financial Results. In a post published today on Yahoo Finance, Beyond Meat, Inc. (NASDAQ: BYND) (“Beyond Meat” or “the Company”), a leader in plant-based meat, today reported financial results for its fourth quarter and full year ended December 31, 2023.
From an analyst’s perspective:
Beyond Meat Inc [NASDAQ: BYND] stock has seen the most recent analyst activity on February 29, 2024, when Argus upgraded its rating to a Hold. Previously, Consumer Edge Research downgraded its rating to Underweight on November 13, 2023, and kept the price target unchanged to $5. On October 12, 2023, downgrade downgraded it’s rating to Underperform and revised its price target to $5 on the stock. TD Cowen started tracking the stock assigning a Underperform rating and suggested a price target of $10 on September 13, 2023. Argus downgraded its rating to Sell for this stock on December 09, 2022. In a note dated November 28, 2022, Barclays downgraded an Underweight rating on this stock and revised its target price from $13 to $10.
Beyond Meat Inc [BYND] stock has fluctuated between $5.58 and $19.25 over the past year. Currently, Wall Street analysts expect the stock to reach $64.22 within the next 12 months. Beyond Meat Inc [NASDAQ: BYND] shares were valued at $8.22 at the most recent close of the market. An investor can expect a potential return of 681.27% based on the average BYND price forecast.
Analyzing the BYND fundamentals
Beyond Meat Inc [NASDAQ:BYND] reported sales of 343.38M for the trailing twelve months, which represents a drop of -7.83%. Gross Profit Margin for this corporation currently stands at -0.24% with Operating Profit Margin at -1.0%, Pretax Profit Margin comes in at -0.97%, and Net Profit Margin reading is -0.98%. To continue investigating profitability, this company’s Return on Assets is posted at -0.44, Equity is 0.94 and Total Capital is -0.49. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of-2.37.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 7.92 points at the first support level, and at 7.62 for the second support level. However, for the 1st resistance point, the stock is sitting at 8.53, and for the 2nd resistance point, it is at 8.85.
Beyond Meat Inc [BYND] reported earnings per share of -$0.92 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.88/share, meaning a difference of $-0.04 and a surprise factor of -4.50%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$1.09 per share as compared to estimates of -$0.89 per share, a difference of $-0.2 representing a surprise of -22.50%.
Ratios To Look Out For
For context, Beyond Meat Inc’s Current Ratio is 5.01. Further, the Quick Ratio stands at 3.26, while the Cash Ratio is 2.56. Considering the valuation of this stock, the price to sales ratio is 1.55.
