Canaccord Genuity Group Issues Pessimistic Forecast for Beachbody (NASDAQ:BODI) Stock Price

Beachbody (NASDAQ:BODI) had its price target decreased by stock analysts at Canaccord Genuity Group from $16.00 to $12.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group‘s price target points to a potential upside of 192.68% from the stock’s previous close.

BODI has been the subject of a number of other research reports. Wall Street Zen downgraded shares of Beachbody from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings cut shares of Beachbody from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, October 6th. Finally, Roth Capital reiterated a “neutral” rating and issued a $9.00 price target on shares of Beachbody in a research report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Beachbody has a consensus rating of “Hold” and a consensus target price of $12.00.

Beachbody Stock Performance

Shares of BODI stock traded down $0.41 on Wednesday, reaching $4.10. The stock had a trading volume of 29,228 shares, compared to its average volume of 47,515. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 0.58. The firm’s 50-day moving average is $4.76 and its two-hundred day moving average is $8.89. The firm has a market capitalization of $29.85 million, a price-to-earnings ratio of 2.52 and a beta of 0.96. Beachbody has a 12 month low of $4.01 and a 12 month high of $16.87.

Beachbody (NASDAQ:BODI) last announced its quarterly earnings results on Tuesday, November 10th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.29. The firm had revenue of $45.19 million for the quarter, compared to the consensus estimate of $46.26 million. Beachbody had a return on equity of 44.34% and a net margin of 5.68%. On average, research analysts expect that Beachbody will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Beachbody

A number of large investors have recently bought and sold shares of BODI. Dimensional Fund Advisors LP bought a new position in Beachbody in the 1st quarter valued at about $111,000. NewEdge Advisors LLC acquired a new stake in shares of Beachbody during the 2nd quarter worth approximately $145,000. Citadel Advisors LLC boosted its position in shares of Beachbody by 104.6% during the 2nd quarter. Citadel Advisors LLC now owns 37,531 shares of the company’s stock worth $384,000 after acquiring an additional 19,189 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Beachbody by 94.9% in the first quarter. Renaissance Technologies LLC now owns 102,864 shares of the company’s stock valued at $1,117,000 after acquiring an additional 50,095 shares during the last quarter. 74.48% of the stock is currently owned by institutional investors and hedge funds.

Beachbody Company Profile

Beachbody, operating under the BODi brand, is a digital fitness and wellness company that provides at-home workout programs, nutrition guidance and related products through online and mobile platforms. Its offerings are designed to support exercise, weight management and broader healthy-lifestyle goals. The company’s portfolio has included on-demand workout content led by professional trainers, personalized fitness and nutrition programs, meal-planning resources, supplements and other wellness products.