Beyond tumbles after Q1 results miss

Neighborhood Intelligence

07/05/2024 16:17

** Beyond Inc's  BYON.N  stock down 22.8% at $16.91, over
5-mth low, on Tues after online retailer's qtrly results miss
Street estimates
    ** BYON on course for biggest one-day pct drop since Sept 6
    ** Parent of Bed, Bath & Beyond and Overstock late Mon said
it delivered 2.2 mln orders in Q1, 27% yr/yr increase, while
active customers crossed 6 mln level for the first time in
non-COVID environment
    ** But rev in qtr of $382 mln came in below LSEG estimate of
$389 mln
    ** Also, co reported loss of $1.62, wider than expected loss
of $0.86
    ** 4 of 12 brokerages rate BYON "buy" or "strong buy", rest
rate "hold", per LSEG
    ** Median PT of $35 down from $30 a month ago
    ** With move on the session, shares have shed about 40% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))