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Beyond Meat (BYND) Gains But Lags Market: What You Should Know

Zacks Equity Research
·3 mins read

Beyond Meat (BYND) closed at $166.06 in the latest trading session, marking a +0.24% move from the prior day. This change lagged the S&P 500's 0.83% gain on the day. Elsewhere, the Dow gained 1.2%, while the tech-heavy Nasdaq added 0.74%.

Prior to today's trading, shares of the plant-based meat company had gained 22.49% over the past month. This has outpaced the Consumer Staples sector's loss of 2.95% and the S&P 500's loss of 4.83% in that time.

Wall Street will be looking for positivity from BYND as it approaches its next earnings report date. In that report, analysts expect BYND to post earnings of $0.04 per share. This would mark a year-over-year decline of 33.33%. Meanwhile, our latest consensus estimate is calling for revenue of $135.58 million, up 47.43% from the prior-year quarter.

BYND's full-year Zacks Consensus Estimates are calling for earnings of $0.07 per share and revenue of $491.74 million. These results would represent year-over-year changes of +275% and +65.07%, respectively.

It is also important to note the recent changes to analyst estimates for BYND. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.85% higher. BYND is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, BYND is holding a Forward P/E ratio of 2454.22. This valuation marks a premium compared to its industry's average Forward P/E of 25.32.

The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 122, putting it in the top 49% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow BYND in the coming trading sessions, be sure to utilize Zacks.com.


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