The Beachbody Company, Inc. (NASDAQ:BODI) Given Consensus Recommendation of “Hold” by Brokerages

Shares of The Beachbody Company, Inc. (NASDAQ:BODI) have been given a consensus recommendation of “Hold” by the six brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $15.6667.

BODI has been the topic of several research analyst reports. Roth Mkm reaffirmed a “neutral” rating and issued a $13.00 price objective on shares of Beachbody in a research report on Wednesday, May 13th. Wall Street Zen downgraded Beachbody from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Craig Hallum initiated coverage on Beachbody in a research report on Monday, March 2nd. They issued a “buy” rating and a $15.00 price objective on the stock. Zacks Research downgraded Beachbody from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beachbody in a research report on Friday, March 27th.

Beachbody Price Performance

NASDAQ:BODI opened at $10.94 on Tuesday. The firm has a market capitalization of $79.21 million, a price-to-earnings ratio of 16.33 and a beta of 1.11. Beachbody has a 1 year low of $3.41 and a 1 year high of $16.87. The business has a 50 day simple moving average of $12.03 and a 200-day simple moving average of $10.48. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.76 and a quick ratio of 0.64.

Beachbody (NASDAQ:BODI) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.40. The business had revenue of $54.28 million during the quarter, compared to analyst estimates of $51.77 million. Beachbody had a return on equity of 33.74% and a net margin of 2.21%. Equities analysts forecast that Beachbody will post 0.37 EPS for the current year.

Hedge Funds Weigh In On Beachbody

Hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC grew its position in Beachbody by 54.0% in the 4th quarter. Renaissance Technologies LLC now owns 52,769 shares of the company’s stock valued at $547,000 after acquiring an additional 18,505 shares during the last quarter. Geode Capital Management LLC increased 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 purchasing an additional 1,125 shares during the period. State Street Corp purchased a new position in Beachbody during the 4th quarter worth $166,000. Jane Street Group LLC purchased a new position in Beachbody during the 4th quarter worth $140,000. Finally, Cruiser Capital Advisors LLC purchased a new position in Beachbody during the 3rd quarter worth $117,000. Institutional investors own 74.48% of the company’s stock.

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.