Beachbody (NASDAQ:BODI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Beachbody (NASDAQ:BODI) from a buy rating to a strong-buy rating in a report released on Saturday.

Several other research firms have also recently weighed in on BODI. Weiss Ratings reissued a “sell (d-)” rating on shares of Beachbody in a research report on Monday, December 29th. Zacks Research lowered shares of Beachbody from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Canaccord Genuity Group upped their target price on shares of Beachbody from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. Finally, Craig Hallum started coverage on shares of Beachbody in a report on Monday, March 2nd. They issued a “buy” rating and a $15.00 price target for the company. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $11.33.

Beachbody Stock Performance

BODI opened at $11.16 on Friday. The firm has a market capitalization of $79.12 million, a P/E ratio of -1.79 and a beta of 1.15. The stock’s 50 day moving average price is $9.65 and its two-hundred day moving average price is $8.19. The company has a quick ratio of 0.63, a current ratio of 0.74 and a debt-to-equity ratio of 0.72. Beachbody has a 12-month low of $3.38 and a 12-month high of $12.66.

Hedge Funds Weigh In On Beachbody

A number of institutional investors have recently modified their holdings of the stock. Bard Associates Inc. acquired a new position in shares of Beachbody during the fourth quarter worth approximately $32,000. Cruiser Capital Advisors LLC acquired a new stake in shares of Beachbody in the third quarter valued at approximately $117,000. Jane Street Group LLC acquired a new stake in shares of Beachbody in the fourth quarter valued at approximately $140,000. State Street Corp bought a new position in Beachbody in the 4th quarter worth approximately $166,000. Finally, Geode Capital Management LLC lifted its holdings in Beachbody by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 32,503 shares of the company’s stock worth $337,000 after buying an additional 1,125 shares in the last quarter. 74.48% of the stock is owned by institutional investors.

About Beachbody

Beachbody is a consumer-oriented health and fitness company based in Santa Monica, California. Founded in 1998 by Carl Daikeler and Jon Congdon, the company originally gained prominence through at-home workout programs distributed on DVD. Over time, Beachbody has transitioned much of its content delivery to a subscription-based digital platform, offering on-demand streaming of exercise routines, meal plans and wellness coaching.

The company’s portfolio includes a range of branded fitness programs—such as P90X, Insanity, 21 Day Fix and Body Beast—alongside nutrition and supplement products marketed under the Beachbody Nutrition brand.