Beachbody (NASDAQ:BODI) Announces Quarterly Earnings Results, Beats Estimates By $0.70 EPS

Beachbody (NASDAQ:BODI) issued its quarterly earnings results on Tuesday. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.70, FiscalAI reports. The business had revenue of $55.54 million for the quarter, compared to analyst estimates of $54.22 million. Beachbody had a negative return on equity of 78.72% and a negative net margin of 15.09%.

Beachbody Stock Up 1.7%

Shares of NASDAQ:BODI traded up $0.14 during trading on Tuesday, hitting $8.33. 23,435 shares of the company were exchanged, compared to its average volume of 38,480. Beachbody has a fifty-two week low of $3.38 and a fifty-two week high of $12.66. The stock has a market cap of $59.06 million, a price-to-earnings ratio of -1.34 and a beta of 1.15. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 0.93. The firm has a fifty day moving average price of $9.63 and a two-hundred day moving average price of $8.03.

Institutional Investors Weigh In On Beachbody

A number of large investors have recently added to or reduced their stakes in the business. Cruiser Capital Advisors LLC bought a new position in Beachbody during the 3rd quarter worth $117,000. Jane Street Group LLC bought a new stake in shares of Beachbody during the 4th quarter valued at $140,000. State Street Corp acquired a new stake in shares of Beachbody during the 4th quarter worth $166,000. Geode Capital Management LLC increased its position in shares of Beachbody by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 32,503 shares of the company’s stock worth $337,000 after purchasing an additional 1,125 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Beachbody by 54.0% in the fourth quarter. Renaissance Technologies LLC now owns 52,769 shares of the company’s stock worth $547,000 after purchasing an additional 18,505 shares during the period. Institutional investors own 74.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BODI. Wall Street Zen raised shares of Beachbody to a “buy” rating in a research report on Saturday, December 27th. Zacks Research lowered shares of Beachbody from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Canaccord Genuity Group increased their target price on Beachbody from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday. Craig Hallum began coverage on Beachbody in a research note on Monday, March 2nd. They issued a “buy” rating and a $15.00 price target on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Beachbody in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $11.33.

About Beachbody

Beachbody is a consumer-oriented health and fitness company based in Santa Monica, California. Founded in 1998 by Carl Daikeler and Jon Congdon, the company originally gained prominence through at-home workout programs distributed on DVD. Over time, Beachbody has transitioned much of its content delivery to a subscription-based digital platform, offering on-demand streaming of exercise routines, meal plans and wellness coaching.

The company’s portfolio includes a range of branded fitness programs—such as P90X, Insanity, 21 Day Fix and Body Beast—alongside nutrition and supplement products marketed under the Beachbody Nutrition brand.