Beachbody (NASDAQ:BODI) Stock Price Target Lowered at Canaccord Genuity Group

Beachbody (NASDAQ:BODI) had its price target reduced by equities research analysts at Canaccord Genuity Group from $16.00 to $12.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group‘s price objective would suggest a potential upside of 192.68% from the company’s current price.

BODI has been the subject of a number of other research reports. Roth Capital reissued a “neutral” rating and issued a $9.00 target price on shares of Beachbody in a report on Tuesday, August 11th. Wall Street Zen lowered shares of Beachbody from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings cut shares of Beachbody from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, October 6th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Beachbody has an average rating of “Hold” and an average price target of $12.00.

Beachbody Price Performance

Shares of BODI stock traded down $0.41 on Wednesday, hitting $4.10. 29,228 shares of the company’s stock were exchanged, compared to its average volume of 47,515. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.79 and a quick ratio of 0.61. Beachbody has a 12 month low of $4.01 and a 12 month high of $16.87. The stock has a market cap of $29.85 million, a P/E ratio of 2.52 and a beta of 0.96. The company has a 50 day moving average of $4.76 and a 200 day moving average of $8.89.

Beachbody (NASDAQ:BODI) last released its quarterly earnings data on Tuesday, November 10th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.29. Beachbody had a return on equity of 44.34% and a net margin of 5.68%. The business had revenue of $45.19 million for the quarter, compared to analyst estimates of $46.26 million. On average, equities research analysts predict that Beachbody will post 0.22 EPS for the current year.

Institutional Trading of Beachbody

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of Beachbody by 94.9% in the first quarter. Renaissance Technologies LLC now owns 102,864 shares of the company’s stock valued at $1,117,000 after buying an additional 50,095 shares during the period. Citadel Advisors LLC boosted its position in Beachbody by 104.6% during the 2nd quarter. Citadel Advisors LLC now owns 37,531 shares of the company’s stock worth $384,000 after buying an additional 19,189 shares during the period. NewEdge Advisors LLC acquired a new stake in Beachbody during the 2nd quarter worth approximately $145,000. Finally, Dimensional Fund Advisors LP bought a new stake in Beachbody during the 1st quarter worth approximately $111,000. 74.48% of the stock is currently owned by institutional investors.

Beachbody Company Profile

Beachbody, operating under the BODi brand, is a digital fitness and wellness company that provides at-home workout programs, nutrition guidance and related products through online and mobile platforms. Its offerings are designed to support exercise, weight management and broader healthy-lifestyle goals. The company’s portfolio has included on-demand workout content led by professional trainers, personalized fitness and nutrition programs, meal-planning resources, supplements and other wellness products.