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Beyond Meat (BYND) Gains But Lags Market: What You Should Know
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In the latest trading session, Beyond Meat (BYND - Free Report) closed at $78.05, marking a +1.8% move from the previous day. The stock lagged the S&P 500's daily gain of 3.06%. At the same time, the Dow added 2.39%, and the tech-heavy Nasdaq gained 3.95%.
Prior to today's trading, shares of the plant-based meat company had gained 24.57% over the past month. This has outpaced the Consumer Staples sector's gain of 2.19% and the S&P 500's gain of 2.36% 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 -$0.06 per share. This would mark year-over-year growth of 57.14%. Meanwhile, our latest consensus estimate is calling for revenue of $86.88 million, up 116.05% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.09 per share and revenue of $417.66 million, which would represent changes of +325% and +40.2%, respectively, from the prior year.
Any recent changes to analyst estimates for BYND should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 69.46% lower within the past month. BYND is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that BYND has a Forward P/E ratio of 902 right now. This valuation marks a premium compared to its industry's average Forward P/E of 19.22.
The Food - Meat Products industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 244, which puts it in the bottom 5% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Beyond Meat (BYND) Gains But Lags Market: What You Should Know
In the latest trading session, Beyond Meat (BYND - Free Report) closed at $78.05, marking a +1.8% move from the previous day. The stock lagged the S&P 500's daily gain of 3.06%. At the same time, the Dow added 2.39%, and the tech-heavy Nasdaq gained 3.95%.
Prior to today's trading, shares of the plant-based meat company had gained 24.57% over the past month. This has outpaced the Consumer Staples sector's gain of 2.19% and the S&P 500's gain of 2.36% 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 -$0.06 per share. This would mark year-over-year growth of 57.14%. Meanwhile, our latest consensus estimate is calling for revenue of $86.88 million, up 116.05% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.09 per share and revenue of $417.66 million, which would represent changes of +325% and +40.2%, respectively, from the prior year.
Any recent changes to analyst estimates for BYND should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 69.46% lower within the past month. BYND is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that BYND has a Forward P/E ratio of 902 right now. This valuation marks a premium compared to its industry's average Forward P/E of 19.22.
The Food - Meat Products industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 244, which puts it in the bottom 5% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.