Beyond Meat’s shares plunge as analysts ask if firm is priced beyond its value [Los Angeles Times (CA)]
Beyond Meat, Inc. - Common stock (BYND)
Last beyond meat, inc. - common stock earnings: 2/27 04:05 pm
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Source: Los Angeles Times
Beyond Meat’s shares plunge as analysts ask if firm is priced beyond its value Beyond Meat Inc.’s share price fell sharply Tuesday in the El Segundo-based fake-meat company’s worst day since its initial public offering, after previously bullish analysts threw in the towel. That paused a rally that has rocketed the stock more than 500% higher. JPMorgan Chase & Co.’s Ken Goldman and James Allen cut their recommendation on the stock to neutral from overweight, saying it’s now too expensive, with a $10-billion value that’s 27 times the company’s estimated 2020 sales. The two-day frenzy that lifted the stock 69% from Thursday’s close through Monday was too much, the analysts said. In response, Beyond Meat’s shares tumbled 25% to $126.04 Tuesday. J.P. Morgan had just upped its price target Friday by $23, to $120, but even that could not keep pace with the soaring share price. The shares had been priced at $25 for the IPO in early May. In a note to clients Tuesday, Goldman and Allen said the
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- 3 Consumer Stocks to Axe From Your List [Yahoo! Finance]Yahoo! Finance
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BYND
Earnings
- 11/6/24 - Beat
BYND
Sec Filings
- 12/18/24 - Form 4
- 12/16/24 - Form 4
- 12/16/24 - Form 4
- BYND's page on the SEC website