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Analyst Reacts To Beyond Meat Earnings, Offering

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Analyst Reacts To Beyond Meat Earnings, Offering

Bernstein's Alexia Howard shared with the viewers of CNBC's "Fast Money" her reaction to Beyond Meat Inc (NASDAQ: BYND) earnings and the secondary offering.

She said the quarter came in pretty strongly, better than analysts estimated. Sales were strong, profits were good and the company raised its full-year revenue guidance.

See Also: Beyond Meat Reports Q2 Sales Beat; Net Revenue Rises 287%

For the secondary offering, Howard thinks it's "interesting that we are going to get a more sizable float," but there is still going to be a very small portion of the overall company's value that is going to be publicly traded. Howard expects the company to use the raised funds to increase the capacity and get ahead of the competition.

Howard said the stock's valuation as become "more and more stretched." In case of some weakness and a pullback, that might be an opportunity to get back in the stock, she said.

The analyst has a Neutral rating on the stock.

Beyond Meat's stock traded down 14% to $191 per share in Monday's after-hours session.

Latest Ratings for BYND

DateFirmActionFromTo
Oct 2020BernsteinDowngradesMarket PerformUnderperform
Oct 2020Piper SandlerMaintainsNeutral
Sep 2020JP MorganDowngradesNeutralUnderweight

View More Analyst Ratings for BYND
View the Latest Analyst Ratings

 

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