Analysts Are Skeptical of Beyond Meat, Inc. (NASDAQ: BYND)

Spotlight Growth - Penny Stocks, Small Cap Stocks, Micro-Cap and Micro Cap Stocks, Stock Exchange, NASDAQ, Crypto, BitCoin, DogeCoin, Ai, Artificial Intelligence, Chat GPT, OpenAi, Open Ai, ASURE Software, Trending, Now, Breaking News, BioTech, Data, Analytics, Technology, Big Tech, Banking, SVB, Bank Closures, Failures, Finance, Stock Market News, WeBull, RobinHood, Reddit Traders, Trading, Investing, Investors, Investment, Investments, Day Trading, Real Estate, VC, Venture Capital, Private Equity, Firm, Firms, OTC Markets, Public, Private, OTCQB, GOOG, APPLE, Shareholders, Stakeholders, Shares, Finance Education, Blog, Articles, Consumer Goods, Pharma, Commodities, Precious Metals, Gold, Silver, Cannabis, CBD, Lithium, Electric Vehicles, Solar, Tesla, Charging, EV, Cloud Computing, Wall Street Bets, Sports Betting, Economy, Economics, IPO, Trade Ideas, Intellectual Property Rights, Private Placement, Crowd Funding, Fundraising, Meta, Metaverse, Web 3, Cyber, Cybersecurity, Cyber Security, Aircraft, VPN, Yahoo Finance, Benzinga, BarChart.

Beyond Meat, Inc. (NASDAQ: BYND), which makes a variety of plant-based meat products, had an incredibly successful IPO in 2019. On May 1, 2019, Beyond Meat’s initial offering was priced at $25.00. By July, BYND hit an all-time high of just under $240 per share.

Still, while the company has been met with extreme optimism from some investors, others grow more concerned with increasing competition, which resulted in a massive drop from the stock’s peak. After hitting its high in July, Beyond Meat would go on to close out 2019 at $75.60.

Analysts Say Beyond Meat is Just Too Pricey

Analysts are starting to take part in the skepticism regarding Beyond Meat’s ability to succeed in-spite of increasing competition from larger food companies and other meatless startups, such as Impossible Foods.

Earlier this month, Bernstein analyst Alexia Howard downgraded Beyond Meat from outperform to market perform. Howard maintained a $106 price target for the stock.

The Bernstein analyst pointed out that Beyond’s near-term potential for sales growth is “largely priced in,” which makes the stock less attractive from a risk-to-reward perspective. Beyond Meat also faces concerns regarding whether or not it can produce enough food to meet high demand.

On the positive side, the analyst indicated that Beyond Meat has significant opportunity for growth in Europe, which would greatly increase its market. However, Bernstein’s price target of $106 implies a 13.4% downside from its current price of $122.40.

Beyond Meat Continues to Face Extreme Competition

One of the biggest concerns surrounding BYND is the growing competition that the company faces. Not only does the company face competition from the likes of other plant-based companies like Impossible Foods, but a number of major food-industry companies are making their way into the plant-based meat industry.

This includes industry giants like Tyson Foods, Inc. (NYSE: TSN), Kellogg Company (NYSE: K), Nestle, and The Kroger Co.’s (NYSE: KR) new line of faux meat products. Bay Area-based Memphis Meats, recently announced raising $161 million in a Series B funding round, as the startup aims to make a formidable push into the meatless protein market. As more competitors enter the market, Beyond Meat is likely to lose some of its pricing power.

In addition to market saturation issues, demand seems to be cooling off from the summer 2019 craze. Even Burger King just announced that it is slashing the price of its Impossible Whopper due to slow sales.

Carrols Restaurant Group, Inc. (NASDAQ: TAST), the U.S.’s largest Burger King franchisee, recently noted that sales of the Impossible Whopper have dropped to an average of 28 units daily per store. This was down from a previous daily average per store of 32 Impossible Whoppers.

While BYND is off to a great start in 2020, much of the surge has been due to the overall market melt-up and the Snoop Dogg/Dunkin’ plant-based sandwich promotion. All eyes will be on Beyond Meats on January 27^th, as we wait latest earnings results after the market close.

BYND: Other News

Beyond Meat has taken a number of steps in an effort to grow its market dominance and assuage investor concerns. Recently, it was announced that McDonald’s Corporation (NYSE: MCD) is expanding the testing of its Beyond Meat burger in Canada.

Furthermore, in order to meet increasing demand, the company announced a supply agreement with Roquette, which will increase the amount of pea protein that is supplied to Beyond Meat.

Regarding this agreement, Ethan Brown, Beyond Meat’s Founder & CEO stated, “This latest contract with Roquette reflects Beyond Meat’s commitment to further scaling the plant protein supply chain as global demand for our products continues to rise.

In the company’s October earnings report, it raised its guidance for the full fiscal year and now expects to reach net revenue in the range of $265 million to $275 million. However, Beyond Meat will need to continue focusing on partnership expansion, as well as research & development (R&D), if they are to stay ahead of the highly-saturated plant-based meat market.

Article By: Connor Beam

Analysts Are Skeptical of Beyond Meat, Inc. (NASDAQ: BYND)

Asure Software (NASDAQ: ASUR) is Expanding to Meet the Rising Demand for Human Capital Management Software

OLB Group (NASDAQ: OLB) and Cuentas (NASDAQ: CUEN) Team Up to Bring Fintech Solutions to Over 32,000 Bodegas Across the United States

New Purchase Orders for SD7 Rugged Device, VK7, and Other Accessories Boost Siyata Mobile’s Outlook (NASDAQ: SYTA)

Telcoin (TEL) Quietly Leads a Crypto Remittance Revolution

Vision Marine (NASDAQ: VMAR): An Innovative, Revenue-Producing Company Riding the Electric Boating Growth Trend

Decentraland (MANA) is the Proof of Concept for the Emerging Metaverse

Alfi, Inc. (NASDAQ: ALF) Climbs 51% After Entering Into Agreement with Miami-Based Fulfillment & Distribution Center For its Ridesharing Digital Tablet Rollout

Telcoin (TEL) Continues to Demonstrate Fundamental Progress, Displaying Bullish Technical Setup

Grove Collaborative (NYSE: GROV) Expands Retail Distribution Footprint Into 2,200 Additional Stores

The Metaverse is Exploding in Popularity and Growth

Cybersecurity Stocks Coming Into Focus Amid High-Profile Attacks

Safe-T (NASDAQ: SFET) Has Been Selected to Present at the United Nations’ Office of Information and Communications Technology Event

Safe-T Group (NASDAQ: SFET) Reports Fourth Quarter and Full Year 2020 Financial Results

Safe-T Group Ltd. (NASDAQ: SFET) Estimates Record-High Annual Revenues of Approximately $4.9 Million Representing ~50% Growth YoY 2020

Safe-T Group Ltd. (NASDAQ: SFET) to Participate at A.G.P.’s Virtual Emerging Growth Technology Conference on February 4, 2021

Nvidia Announces New Chip Specifically For Ethereum Mining

Sortis Holdings, Inc. (OTC Pink: SOHI) Announces Results for Second Quarter 2020

Medical Marijuana Coming Soon to Virginia

SushiSwap (SUSHI) Appropriates Uniswap’s Liquidity Pool by Preempting Native Token Release

Europe Shows Signs of Warming to SPACs

Singapore’s Journey to Becoming a Biotech Powerhouse

SeaStar Medical (NASDAQ: ICU) Earns Third FDA Breakthrough Device Designation for Selective Cytopheretic Device

Exploring What Led to a 3,000% Surge in Shares of Tempest Therapeutics (NASDAQ: TPST)

Vivos Therapeutics (NASDAQ: VVOS) Secures Strategic Alliances to Enhance Clear Aligner Offerings and Bolster Revenue Streams

Shares of Soleno Therapeutics (NASDAQ: SLNO) Surge Over 500% After Its DCCR Candidate Shows Promise in PWS Clinical Trials

Understanding EBITDA and Adjusted EBITDA: A View Into Asure’s (NASDAQ: ASUR) Recent Financial Performance

From Microsoft to Travel Tech: VCI Global’s (NASDAQ: VCIG) Expanding AI Horizons

Singapore’s Leap into the Future of Cell and Gene Therapies

Asure (NASDAQ: ASUR) Completes Capital Raise to Fuel High-Interest Debt Reduction, Craig-Hallum Analyst Praises Move and Estimates Bullish Outcome

Asure (NASDAQ: ASUR) Reports Massive 50% Y/Y Revenue Growth During Q2 2023, Raises $40 Million to Pay Off High-Interest Debt and Fund Acquisitions

Recent News

Singapore’s Journey to Becoming a Biotech Powerhouse

SeaStar Medical (NASDAQ: ICU) Earns Third FDA Breakthrough Device Designation for Selective Cytopheretic Device

Categories

Site Navigation