Beyond, Inc. BYON shares are on the rise, with a more than 9% increase over the past month. Here’s what you need to know.
Analyst Activity:
Last week, two analysts raised their price targets on Beyond. Barclays maintained Beyond with an Equal-Weight and raised the price target from $20 to $24, while Needham analyst Anna Andreeva upgraded Beyond from Hold to Buy and set a $40 price target.
The Needham report highlighted the existing Bed Bath and Beyond brand loyalty and broad market share. Needham also sees potential for the company to reduce or eliminate some fixed expenses and is encouraged by Marcus Lemonis, who has taken the helm of the company following the resignation of Allison Abraham on Dec. 19.
Andreeva’s price target of $40 represents a nearly 56% potential upside for the stock.
Additionally, it should be noted that 12.53% of available Beyond shares are being sold short, according to data from Benzinga Pro.
BYON Price Movement: According to Benzinga Pro, Beyond shares are up 1.3% at $25.67 at the time of publication.
Image: Gentelle_Linen from Pixabay
