Earnings Update: Beyond, Inc. (NYSE:BYON) Just Reported And Analysts Are Boosting Their Estimates

It's been a good week for Beyond, Inc. (NYSE:BYON) shareholders, because the company has just released its latest full-year results, and the shares gained 4.9% to US$27.40. The results don't look great, especially considering that statutory losses grew 67% toUS$6.81 per share. Revenues of US$1.6b did beat expectations by 2.5%, but it looks like a bit of a cold comfort. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Beyond after the latest results.

Check out our latest analysis for Beyond

Taking into account the latest results, the consensus forecast from Beyond's nine analysts is for revenues of US$1.84b in 2024. This reflects a meaningful 18% improvement in revenue compared to the last 12 months. The loss per share is expected to greatly reduce in the near future, narrowing 75% to US$1.66. Before this latest report, the consensus had been expecting revenues of US$1.60b and US$2.09 per share in losses. We can see there's definitely been a change in sentiment in this update, with the analysts administering a sizeable upgrade to this year's revenue estimates, while at the same time reducing their loss estimates.

It will come as no surprise to learn thatthe analysts have increased their price target for Beyond 8.1% to US$32.57on the back of these upgrades. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. There are some variant perceptions on Beyond, with the most bullish analyst valuing it at US$45.00 and the most bearish at US$24.00 per share. Note the wide gap in analyst price targets? This implies to us that there is a fairly broad range of possible scenarios for the underlying business.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. It's clear from the latest estimates that Beyond's rate of growth is expected to accelerate meaningfully, with the forecast 18% annualised revenue growth to the end of 2024 noticeably faster than its historical growth of 2.1% p.a. over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 5.2% annually. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Beyond to grow faster than the wider industry.

The Bottom Line

The most important thing to take away is that the analysts reconfirmed their loss per share estimates for next year. Pleasantly, they also upgraded their revenue estimates, and their forecasts suggest the business is expected to grow faster than the wider industry. There was also a nice increase in the price target, with the analysts clearly feeling that the intrinsic value of the business is improving.

Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have estimates - from multiple Beyond analysts - going out to 2026, and you can see them free on our platform here.

We also provide an overview of the Beyond Board and CEO remuneration and length of tenure at the company, and whether insiders have been buying the stock, here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.