Beyond cut to Sell at Argus after third earnings miss in four quarters

As previously reported, Argus downgraded Beyond (BYON) to Sell from Hold, also suspending the firm’s coverage of the stock. The company’s recent Q3 results saw a third earnings miss in the last reported four quarters, its financial strength is “low”, and its cash balance is dwindling, the analyst tells investors in a research note. There is also little transparency on earnings growth in the future, while the stock has traded in a bearish pattern of lower highs and lows since November 2021, Argus adds.