Beyond Meat Won't Gain From Rising Beef Prices. Why the ‘Worst Is Yet to Come.' [MarketWatch]
Beyond Meat, Inc. - Common stock (BYND)
Last beyond meat, inc. - common stock earnings: 2/27 04:05 pm
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Source: MarketWatch
Barclays analyst Benjamin Theurer downgraded shares of Beyond Meat to Underweight from Equal Weight on Monday. He cut his 12-month price target on the stock to $10 from $13, saying that although the stock has fallen 81% in 2022, “the worst is yet to come.” Shares of Beyond Meat were down 2.8% Monday to $12.36. The problem, Theurer wrote in a research note, is that although the price of meat is rising, shoppers may not switch to Beyond Meat and comparable products. “Despite our call for much higher beef prices by 2025, alternative meat companies may not necessarily benefit,” he wrote. “Beyond Meat's third quarter 2022 average price of $8.35 per pound is already 72% higher than USDA's September 2022 ground beef at $4.85 per pound, and it also takes time for consumer habits to change.” Beyond Meat Chief Executive Ethan Walden Brown acknowledged the issue in the company's most recent earnings conference call. “With persistent and 40-year record inflation in grocery stores, sh
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News
- Beyond Meat, Inc. (NASDAQ:BYND) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Why Beyond Meat (BYND) Shares Are Sliding Today [Yahoo! Finance]Yahoo! Finance
- Beyond Meat, Inc. (NASDAQ: BYND) had its price target lowered by analysts at BMO Capital Markets from $10.00 to $9.00. They now have a "market perform" rating on the stock.MarketBeat
- Why Beyond Meat Stock Was Sliding Today [Yahoo! Finance]Yahoo! Finance
- Beyond Meat, Inc. (NASDAQ: BYND) had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $4.00 to $3.50. They now have a "sell" rating on the stock.MarketBeat
BYND
Earnings
- 5/8/24 - Miss
BYND
Sec Filings
- 5/9/24 - Form 10-Q
- 5/8/24 - Form 8-K
- 5/7/24 - Form 4
- BYND's page on the SEC website