Beyond Meat (NASDAQ:BYND) Announces Quarterly Earnings Results

Beyond Meat (NASDAQ:BYND) posted its quarterly earnings results on Wednesday. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.05), RTT News reports. The firm had revenue of $75.60 million for the quarter, compared to analyst estimates of $75.24 million. Beyond Meat’s revenue for the quarter was down 18.0% on a year-over-year basis. During the same period last year, the business posted ($0.92) earnings per share.

Beyond Meat Trading Down 0.8 %

NASDAQ BYND traded down $0.07 during trading hours on Wednesday, reaching $8.21. The company’s stock had a trading volume of 3,705,061 shares, compared to its average volume of 3,148,294. The stock has a market cap of $531.02 million, a PE ratio of -1.56 and a beta of 2.42. The business has a 50-day simple moving average of $7.67 and a 200 day simple moving average of $7.58. Beyond Meat has a 52 week low of $5.58 and a 52 week high of $19.25.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BYND shares. Mizuho reduced their target price on Beyond Meat from $7.00 to $6.00 and set an “underperform” rating on the stock in a research report on Monday, April 22nd. TD Cowen lowered their price objective on Beyond Meat from $10.00 to $6.00 and set a “sell” rating for the company in a research report on Wednesday, April 17th. Argus upgraded shares of Beyond Meat from a “sell” rating to a “hold” rating in a research note on Thursday, February 29th. Finally, BMO Capital Markets upped their price target on Beyond Meat from $7.00 to $10.00 and gave the stock a “market perform” rating in a report on Wednesday, February 28th. Five analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $5.83.

Beyond Meat Company Profile

Beyond Meat, Inc, a plant-based meat company, develops, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across the platforms of beef, pork, and poultry. It sells its products through grocery, mass merchandiser, club stores, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.