Beachbody (NASDAQ:BODI) Upgraded at Zacks Research

Zacks Research upgraded shares of Beachbody (NASDAQ:BODI) from a hold rating to a strong-buy rating in a research report report published on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beachbody in a research report on Monday, December 29th. Craig Hallum started coverage on shares of Beachbody in a report on Monday, March 2nd. They issued a “buy” rating and a $15.00 price objective for the company. Wall Street Zen raised shares of Beachbody from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. Finally, Canaccord Genuity Group boosted their price target on shares of Beachbody from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.33.

Beachbody Price Performance

Shares of NASDAQ:BODI opened at $11.70 on Monday. The firm’s 50 day moving average is $9.71 and its two-hundred day moving average is $8.26. The firm has a market capitalization of $82.95 million, a P/E ratio of -24.89 and a beta of 1.15. The company has a current ratio of 0.74, a quick ratio of 0.63 and a debt-to-equity ratio of 0.72. Beachbody has a 52 week low of $3.38 and a 52 week high of $12.66.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bard Associates Inc. bought a new stake in Beachbody in the fourth quarter worth about $32,000. Cruiser Capital Advisors LLC acquired a new position in shares of Beachbody in the 3rd quarter worth approximately $117,000. Jane Street Group LLC bought a new stake in shares of Beachbody in the 4th quarter worth approximately $140,000. State Street Corp bought a new stake in shares of Beachbody in the 4th quarter worth approximately $166,000. Finally, Geode Capital Management LLC lifted its stake in Beachbody by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 32,503 shares of the company’s stock valued at $337,000 after purchasing an additional 1,125 shares during the last quarter. 74.48% of the stock is owned by institutional investors and hedge funds.

Beachbody Company Profile

Beachbody is a consumer-oriented health and fitness company based in Santa Monica, California. Founded in 1998 by Carl Daikeler and Jon Congdon, the company originally gained prominence through at-home workout programs distributed on DVD. Over time, Beachbody has transitioned much of its content delivery to a subscription-based digital platform, offering on-demand streaming of exercise routines, meal plans and wellness coaching.

The company’s portfolio includes a range of branded fitness programs—such as P90X, Insanity, 21 Day Fix and Body Beast—alongside nutrition and supplement products marketed under the Beachbody Nutrition brand.