In a report released today, Michael Lavery from Piper Sandler reiterated a Sell rating on Beyond Meat (BYND – Research Report), with a price target of $3.00. The company’s shares opened today at $6.62.
According to TipRanks, Lavery is a 4-star analyst with an average return of 4.5% and a 49.51% success rate. Lavery covers the Consumer Defensive sector, focusing on stocks such as General Mills, Campbell Soup, and Post Holdings.
In addition to Piper Sandler, Beyond Meat also received a Sell from Goldman Sachs’s Adam Samuelson in a report issued yesterday. However, today, BMO Capital maintained a Hold rating on Beyond Meat (NASDAQ: BYND).
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Based on Beyond Meat’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $102.15 million and a GAAP net loss of $53.51 million. In comparison, last year the company earned a revenue of $147.04 million and had a GAAP net loss of $97.13 million
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Beyond Meat (BYND) Company Description:
Beyond Meat, Inc. engages in the provision of plant-based meats. Its products include ready-to-cook meat under the brands The Beyond Burger and Beyond Sausage; and frozen meat namely Beyond Chicken Strips and Beyond Beef Crumbles. The company was founded by Ethan Walden Brown and Brent Taylor in 2009 and is headquartered in El Segundo, CA.
Read More on BYND:
- Beyond Meat options imply 12.6% move in share price post-earnings
- Options Volatility and Implied Earnings Moves Today, November 08, 2023
- Beyond Meat put volume heavy and directionally bearish
- Beyond Meat price target lowered to $7.50 from $13 at Canaccord
- Beyond Meat lowers 2023 revenue outlook to $330M-$340M, consensus $366M
