Roth Mkm Reiterates Neutral Rating for Beachbody (NYSE:BODI)

Beachbody (NYSE:BODI)‘s stock had its “neutral” rating restated by research analysts at Roth Mkm in a research note issued on Tuesday,Benzinga reports. They presently have a $7.00 price objective on the stock, down from their previous price objective of $12.00. Roth Mkm’s target price would indicate a potential upside of 12.00% from the company’s current price.

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a $13.00 price objective on shares of Beachbody in a research report on Friday, March 28th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Beachbody presently has a consensus rating of “Hold” and an average price target of $11.00.

Beachbody Price Performance

Shares of Beachbody stock opened at $6.25 on Tuesday. The firm has a market capitalization of $43.28 million, a PE ratio of -0.40 and a beta of 1.13. The company has a current ratio of 0.64, a quick ratio of 0.52 and a debt-to-equity ratio of 0.17. Beachbody has a 12 month low of $5.14 and a 12 month high of $10.80. The business’s 50-day moving average price is $7.34 and its 200-day moving average price is $6.71.

Beachbody (NYSE:BODI) last announced its quarterly earnings data on Thursday, March 27th. The company reported ($1.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.88) by $0.99. The company had revenue of $86.37 million during the quarter, compared to analysts’ expectations of $81.71 million. Beachbody had a negative net margin of 22.62% and a negative return on equity of 94.29%. Sell-side analysts forecast that Beachbody will post -8.16 EPS for the current fiscal year.

Institutional Trading of Beachbody

Several large investors have recently added to or reduced their stakes in the stock. Raine Capital LLC bought a new position in Beachbody in the 3rd quarter worth $4,287,000. Rockefeller Capital Management L.P. raised its stake in Beachbody by 38.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 151,410 shares of the company’s stock worth $931,000 after buying an additional 42,079 shares in the last quarter. Summit Financial LLC purchased a new stake in Beachbody in the fourth quarter worth about $104,000. Finally, Raine Group LLC bought a new stake in Beachbody during the 3rd quarter valued at approximately $25,000. Institutional investors own 74.48% of the company’s stock.

Beachbody Company Profile

The Beachbody Company, Inc operates as a subscription health and wellness company that provides fitness, nutrition, and stress-reducing programs in the United States and internationally. The company operates Beachbody on Demand, a digital subscription platform that provides access to a library of live and on-demand fitness and nutrition content; and Beachbody on Demand Interactive (BODi) for live fitness and nutrition programs.