The Beachbody Company, Inc. (NASDAQ:BODI) Receives $13.50 Consensus Target Price from Analysts

Shares of The Beachbody Company, Inc. (NASDAQ:BODI) have been given a consensus recommendation of “Moderate Buy” by the five analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $13.50.

Several brokerages have recently issued reports on BODI. Wall Street Zen upgraded Beachbody from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. Zacks Research upgraded Beachbody from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 16th. Canaccord Genuity Group lifted their price objective on Beachbody from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. Craig Hallum started coverage on Beachbody in a research note on Monday, March 2nd. They issued a “buy” rating and a $15.00 price objective for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Beachbody in a research note on Friday, March 27th.

Institutional Investors Weigh In On Beachbody

Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its stake in Beachbody by 54.0% in the fourth quarter. Renaissance Technologies LLC now owns 52,769 shares of the company’s stock valued at $547,000 after buying an additional 18,505 shares during the last quarter. Geode Capital Management LLC lifted its stake in Beachbody by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 32,503 shares of the company’s stock valued at $337,000 after buying an additional 1,125 shares during the last quarter. Cruiser Capital Advisors LLC purchased a new stake in Beachbody in the third quarter valued at approximately $117,000. State Street Corp purchased a new stake in Beachbody in the fourth quarter valued at approximately $166,000. Finally, Jane Street Group LLC purchased a new stake in Beachbody in the fourth quarter valued at approximately $140,000. Hedge funds and other institutional investors own 74.48% of the company’s stock.

Beachbody Stock Performance

Shares of Beachbody stock opened at $10.02 on Monday. The business has a 50-day moving average of $9.98 and a 200 day moving average of $8.79. Beachbody has a 12 month low of $3.38 and a 12 month high of $12.66. The stock has a market capitalization of $71.94 million, a price-to-earnings ratio of -21.32 and a beta of 0.85. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.74 and a quick ratio of 0.63.

About Beachbody

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.