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Sergey Savastiouk's Avatar
published in Blogs
Oct 29, 2019

Beyond Meat ( BYND, $85.70) slumps as investors' lockup period ends; analysts cut price targets

On Monday Beyond Meat  topped analysts’ expectations for its fiscal third-quarter earnings and revenue. But its shares were tumbling  in premarket trading Tuesday, as the lockup period for early investors in the stock ended - which means, they are free to sell the shares. Several analysts slashed their price targets on the stock on Tuesday.

Analysts at Credit Suisse reduced their price target on Beyond Meat shares to $115 a share from $135 share. The analysts maintained their neutral rating. Analyst Robert Moskow indicated that they are “tamping down” 2026 sales estimate and  price-to-sales multiple to 5.5x (from 6.0x), on what they perceive to be increasing competition in the plant-based meat substitute category.

J.P. Morgan analysts lowered their price target to $138 from $189 with an overweight rating. The analysts indicated that they have cut their revenue forecasts for 2025 and beyond, which flow into the DCF estimates. Though they said that Beyond Meat's story has promise and that the shares are undervalued, they still feel that it is prudent to model steady growth in the out-years rather than an acceleration.

Analysts at DA Davidson cut their price target on the plant-based meat maker’s shares to $84 from $130, while maintaining an underperform rating. Analyst Brian Holland said that even though Beyond Meat “has some edge at this juncture”, larger firms with more resources have entered the space in short order, thereby affecting Beyond Meat’s first mover advantage lead time.

On Monday, Beyond Meat had reported fiscal third-quarter earnings per share of 6 cents, beating analysts’ expectation of 3 cents. The results also marked the company’s first quarterly profit. Quarterly net revenue climbed +250% year-over-year to $92 million, also exceeding analysts’ estimate of $82.2 million (based on Refinitiv poll).

 

Related Ticker: BYND

BYND in upward trend: 10-day moving average crossed above 50-day moving average on May 13, 2024

The 10-day moving average for BYND crossed bullishly above the 50-day moving average on May 13, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 11 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.

Following a +1 3-day Advance, the price is estimated to grow further. Considering data from situations where BYND advanced for three days, in of 273 cases, the price rose further within the following month. The odds of a continued upward trend are .

Bearish Trend Analysis

The 10-day RSI Indicator for BYND moved out of overbought territory on May 09, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 27 similar instances where the indicator moved out of overbought territory. In of the 27 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Momentum Indicator moved below the 0 level on May 16, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on BYND as a result. In of 91 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for BYND turned negative on May 20, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 38 similar instances when the indicator turned negative. In of the 38 cases the stock turned lower in the days that followed. This puts the odds of success at .

BYND moved below its 50-day moving average on May 16, 2024 date and that indicates a change from an upward trend to a downward trend.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where BYND declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

BYND broke above its upper Bollinger Band on May 02, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

The Aroon Indicator for BYND entered a downward trend on May 03, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. BYND’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: BYND's P/B Ratio (59.524) is very high in comparison to the industry average of (7.424). P/E Ratio (0.000) is within average values for comparable stocks, (26.814). BYND's Projected Growth (PEG Ratio) (0.000) is slightly lower than the industry average of (2.471). Dividend Yield (0.000) settles around the average of (0.043) among similar stocks. P/S Ratio (1.455) is also within normal values, averaging (63.014).

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. BYND’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 79, placing this stock worse than average.

Notable companies

The most notable companies in this group are Mondelez International (NASDAQ:MDLZ), Kraft Heinz Company (The) (NASDAQ:KHC), General Mills (NYSE:GIS), Campbell Soup Company (NYSE:CPB), Beyond Meat (NASDAQ:BYND).

Industry description

A specialty/candy manufacturer specializes in one or more of the following: chocolate, candies, pasta, condiments, seasonings, among other items. Hershey Company, McCormick & Company and J.M. Smucker Company are some of the major firms in this segment. Demand for this industry’s products comes from both institutions/restaurants as well as households.

Market Cap

The average market capitalization across the Food: Specialty/Candy Industry is 8.51B. The market cap for tickers in the group ranges from 6.25K to 327.81B. NSRGY holds the highest valuation in this group at 327.81B. The lowest valued company is OGGFF at 6.25K.

High and low price notable news

The average weekly price growth across all stocks in the Food: Specialty/Candy Industry was 1%. For the same Industry, the average monthly price growth was 9%, and the average quarterly price growth was 29%. SRKE experienced the highest price growth at 95%, while AMNCB experienced the biggest fall at -48%.

Volume

The average weekly volume growth across all stocks in the Food: Specialty/Candy Industry was 9%. For the same stocks of the Industry, the average monthly volume growth was 3% and the average quarterly volume growth was -18%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 51
P/E Growth Rating: 66
Price Growth Rating: 51
SMR Rating: 76
Profit Risk Rating: 78
Seasonality Score: 5 (-100 ... +100)
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published General Information

General Information

a company, which offers plant-based meat products

Industry FoodSpecialtyCandy

Profile
Fundamentals
Details
Industry
Food Meat Or Fish Or Dairy
Address
119 Standard Street
Phone
+1 866 756-4112
Employees
787
Web
https://www.beyondmeat.com
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