On May 13th, 2023, equities researchers at Mizuho made a big announcement regarding Beyond Meat Inc.’s (NASDAQ: BYND) price objective. The researchers issued a report to investors on Friday stating that they have dropped Beyond Meat’s price objective from $20.00 to $12.00, which indicates a potential upside of 17.65% from the current stock price.
This news comes just three days after Beyond Meat released its earnings report on Wednesday, May 10th. According to the report, Beyond Meat had earned ($0.92) earnings per share (EPS) for the quarter but managed to beat analysts’ consensus estimates of ($1.01) by $0.09.
Despite this good news, Mizuho still believes that Beyond Meat’s performance has not met expectations, due to its dwindling revenue figures and disappointing projections for the current fiscal year. While analysts anticipated revenue figures of $92.07 million during the last quarter, Beyond Meat only managed to bring in $92.24 million.
It’s worth noting that Beyond Meat was able to improve its earnings considerably when compared with the previous year’s results where it had reported ($1.58) EPS in the same quarter as opposed to this year’s ($0.92) EPS.
The equities research analysts at Mizuho see no imminent turnaround for Beyond Meat and urge caution among investors who should brace themselves for turbulence in stock prices as a result of lower demand for plant-based meat alternatives.
To sum up: despite showing some positive signs according to their recent earnings release, Beyond Meat still has many challenges ahead if it wants to meet shareholders’ expectations and attract more investment money – thus proving itself a worthy contender within this highly competitive market niche segment.
As always with stocks and investments generally speaking please consult with a financial advisor before making any decisions regarding buying or selling shares in publicly traded companies like beyond meat, as market fluctuations can be unpredictable.
Mixed Reviews for Beyond Meat: A Look at the Future of Plant-Based Meats
The world of plant-based meats has been shaken up in recent years with the introduction of Beyond Meat, Inc. The company’s innovative products, including The Beyond Burger and Beyond Sausage brands, have captured the attention of consumers seeking environmentally-friendly and health-conscious meat alternatives. However, with the rise in popularity comes increased scrutiny from investors and analysts.
According to a report from Monday, February 27th, Credit Suisse Group restated an “underperform” rating and issued a target price of $10.00 on shares of Beyond Meat. This followed a report from Friday, February 24th by Sanford C. Bernstein who increased their price objective on the company to $18.00 and gave them a “market perform” rating. More recently, BMO Capital Markets cut their price objective on BYND from $16.00 to $14.00 in a report on Thursday.
These mixed reviews have resulted in five research analysts giving the stock a sell rating and six issuing a hold rating. According to Bloomberg.com, Beyond Meat currently has an average rating of “Hold” and an average target price of $15.23.
Despite these ups and downs in ratings, BYND opened at $10.20 on Friday May 13th with a market cap of $654.33 million and PE ratio of -1.77 and beta of 2.00. The business also has a fifty day simple moving average of $15.11 and a 200-day simple moving average of $15.03.
Institutional investors have also taken notice of Beyond Meat’s potential for growth with several buying shares recently according to reports from numerous sources such as Federated Hermes Inc., Zurcher Kantonalbank Zurich Cantonalbank, Echo Street Capital Management LLC just to name few.
Beyond Meat was founded by Ethan Walden Brown and Brent Taylor in El Segundo California back in 2009; they offer ready-to-cook meat alternatives under The Beyond Burger and Beyond Sausage brands as well as frozen meat options such as Beyond Chicken Strips and Beyond Beef Crumbles.
In conclusion, the mixed nature of reviews for BYND is a reflection of uncertainty in the future trajectory of this industry. Nonetheless, many institutional investors have placed bets that plant-based meats will continue to grow in popularity as consumers seek out environmentally friendly and healthier meat alternatives. As we look to the future, it remains to be seen whether Beyond Meat will be able to continue to satisfy both customers and shareholders alike.