Beyond Meat (BYND) Gets a Hold Rating from Jefferies
In a report issued on March 30, Robert Dickerson from Jefferies maintained a Hold rating on Beyond Meat (BYND), with a price target of $72.00. The company’s shares closed last Wednesday at $64.18, close to its 52-week low of $45.00.
According to TipRanks.com, Dickerson is a 1-star analyst with an average return of -6.5% and a 35.5% success rate. Dickerson covers the Consumer Goods sector, focusing on stocks such as Mondelez International, Lamb Weston Holdings, and McCormick & Company.
Currently, the analyst consensus on Beyond Meat is a Hold with an average price target of $94.40.
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Based on Beyond Meat’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $98.48 million and GAAP net loss of $452K. In comparison, last year the company earned revenue of $31.51 million and had a GAAP net loss of $7.45 million.
Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BYND in relation to earlier this year.
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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.
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