Beyond Faces Uphill Battle With Declining Orders And Cash Concerns In Tough Turnaround, Analyst Downgrades Stock

BofA Securities analyst Curtis Nagle downgraded Beyond, Inc. (NYSE:BYON) to Underperform from Neutral, lowering the price forecast to $6 from $12.50.

Following the “disappointing” third-quarter results, the analyst expresses uncertainty about the timing and potential for ongoing turnaround efforts. The decline in orders remains a critical issue, which management acknowledged during the Investor Event.

While a reduction in marketing spend has boosted EBITDA, the analyst writes that customer affinity for the brand appears closely linked to marketing and promotions, making near-term improvements unlikely. Additionally, Beyond is navigating a complex landscape with three brand relaunches and two new partnerships, adding significant challenges, all …

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