Brokerages Set Beyond Meat (NASDAQ:BYND) PT at $104.48

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Beyond Meat (NASDAQ:BYND) has been assigned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $104.48.

Several equities research analysts recently weighed in on BYND shares. Sanford C. Bernstein started coverage on shares of Beyond Meat in a research note on Monday, May 6th. They set an “outperform” rating on the stock. Bank of America reaffirmed a “neutral” rating and set a $101.00 target price (up from $85.00) on shares of Beyond Meat in a research note on Friday, June 7th. Goldman Sachs Group started coverage on shares of Beyond Meat in a research note on Monday, May 27th. They set a “neutral” rating and a $67.00 target price on the stock. Consumer Edge started coverage on shares of Beyond Meat in a research note on Monday, May 20th. They set an “equal weight” rating and a $89.35 target price on the stock. Finally, Credit Suisse Group started coverage on shares of Beyond Meat in a research note on Tuesday, May 28th. They set a “neutral” rating and a $70.00 target price on the stock.

In other news, Director Raymond J. Lane acquired 29,442 shares of the company’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $25.00 per share, with a total value of $736,050.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Dariush Ajami acquired 2,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was purchased at an average cost of $25.00 per share, for a total transaction of $50,000.00. The disclosure for this purchase can be found here.

BYND traded down $1.26 during trading hours on Friday, hitting $159.22. 3,011,775 shares of the company’s stock were exchanged, compared to its average volume of 11,695,902. Beyond Meat has a 12-month low of $45.00 and a 12-month high of $201.88. The stock’s 50 day moving average price is $111.96.

Beyond Meat (NASDAQ:BYND) last announced its earnings results on Thursday, June 6th. The company reported ($0.14) earnings per share for the quarter, hitting the consensus estimate of ($0.14). The business had revenue of $40.20 million for the quarter, compared to analysts’ expectations of $38.93 million. The firm’s quarterly revenue was up 214.1% on a year-over-year basis. As a group, research analysts predict that Beyond Meat will post -0.26 earnings per share for the current year.

Beyond Meat Company Profile

Beyond Meat, Inc, a food company, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells its products under the Beyond Beef, Beyond Chicken, The Beyond Burger, Beyond Meat, Beyond Sausage, Eat What You Love, and The Cookout Classic brand names.

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Analyst Recommendations for Beyond Meat (NASDAQ:BYND)

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