Maxim Group analyst Tom Forte has maintained their bullish stance on BYON stock, giving a Buy rating on February 25.
Tom Forte’s rating is based on the recent management changes at Beyond Inc, which he believes will accelerate the company’s journey towards sustainable profitability. The appointment of Marcus Lemonis as Principal Executive Officer, alongside his role as Executive Chairman, and Adrianne Lee as President and CFO, is seen as a positive step towards improving the financial metrics of the company, particularly gross margin and adjusted EBITDA.
Despite the positive outlook on internal management shifts, Forte acknowledges the external market challenges that Beyond Inc faces, particularly in the Home category. However, he remains optimistic about the leadership’s ability to navigate these challenges and is encouraged by the company’s efforts to unlock value from its blockchain investments. Forte maintains his Buy rating with a price target of $16, reflecting his confidence in the company’s long-term strategy and leadership’s capability to achieve profitability.
In another report released on February 25, Wedbush also reiterated a Buy rating on the stock with a $15.00 price target.
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