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Beyond Meat Inc (NASDAQ: BYND): This Is The Year For Success Over The Next Few Months

In the latest trading session, 0.87 million Beyond Meat Inc (NASDAQ:BYND) shares changed hands as the company’s beta touched 2.32. With the company’s most recent per share price at $7.26 changing hands around $0.13 or 1.89% at last look, the market valuation stands at $468.88M. BYND’s current price is a discount, trading about -215.01% off its 52-week high of $22.87. The share price had its 52-week low at $5.58, which suggests the last value was 23.14% up since then. When we look at Beyond Meat Inc’s average trading volume, we note the 10-day average is 2.02 million shares, with the 3-month average coming to 1.22.

Beyond Meat Inc (NASDAQ:BYND) trade information

Instantly BYND is in green as seen in intraday trades today. With action 18.52%, the performance over the past five days has been green. The jump to weekly highs of 7.45 added 1.89% to the stock’s daily price. The company’s shares are showing year-to-date downside of -18.37%, with the 5-day performance at 18.52% in the green. However, in the 30-day time frame, Beyond Meat Inc (NASDAQ:BYND) is -6.14% down. Looking at the short shares, we see there were 23.36 million shares sold at short interest cover period of 10.91 days.

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Beyond Meat Inc (BYND) estimates and forecasts

Data shows that the Beyond Meat Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -44.07% over the past 6 months, a 33.91% in annual growth rate that is considerably higher than the industry average of 13.30%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Beyond Meat Inc will rise 16.20%, while the growth in revenue is estimated to hit 13.00% for the next quarter. Year-over-year growth is forecast to reach -19.70% down from the last financial year.

Consensus estimates given by 11 financial analysts project the company’s revenue in the current quarter to hit an average of $66.66 million. 8 analysts are of the opinion that Beyond Meat Inc’s revenue for the quarter ending Mar 2024 will be $88.64 million. The company’s revenue for the corresponding quarters a year ago was $79.94 million and $92.24 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -16.60%. The estimates for the next quarter sales put growth at -3.90%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -62.69%. The 2024 estimates are for Beyond Meat Inc earnings to increase by 34.78%, but the outlook for the next 5-year period is at 10.00% per year.

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