Beyond price target lowered to $26 from $33 at Maxim

Maxim lowered the firm’s price target on Beyond (BYON) to $26 from $33 and keeps a Buy rating on the shares. The firm cites the company’s Q3 earnings miss and a weak Q4 outlook, noting however that its adjusted EBITDA was closer to expectations as management intentionally focused on profitability to the detriment of net revenues, the analyst tells investors in a research note.