Market Overview

Why Beyond Meat Has Plenty Of Upside Ahead Despite New Highs

Why Beyond Meat Has Plenty Of Upside Ahead Despite New Highs

Shares of Beyond Meat Inc (NASDAQ: BYND) are up nearly 150% this year and two experts presented opposing thoughts on what's next for the plant-based food maker.

'Plenty Of Upside Left': Beyond Meat's stock offers "one of the better-looking charts" and implies there is "plenty of upside left," MKM Partners Chief Market Technician JC O'Hara said on CNBC. Specifically, Beyond Meat's stock chart shows the price is breaking higher from a multimonth base pattern while establishing a new uptrend.

Beyond Meat's stock also charged through a $165 to $170 resistance level this month and now serves as a level of support.

The next target for Beyond Meat's stock is the "nice round number of" $200 per share with "clear" upside potential to the next overhead level of $240 per share.

See Also: Beyond Meat Gains After Announcing Major Walmart Expansion

'Very Rich' Valuation: Beyond Meat deserves credit for showing "meteoric" growth, but the company has yet to show positive cash flows and positive margins, said Chantico Global CEO Gina Sanchez. There is plenty of reason to believe the company will turn these metrics positive but in the meantime, the valuation is "very rich" at more than 300 times forward P/E and 6,000 times trailing PE.

"It's a big headwind," she said.

Beyond Meat's stock trades around $186.42 at publication time.

Latest Ratings for BYND

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

View More Analyst Ratings for BYND
View the Latest Analyst Ratings


Related Articles (BYND)

View Comments and Join the Discussion!

Posted-In: food Gina SanchezAnalyst Color Long Ideas Technicals Analyst Ratings Media Trading Ideas Best of Benzinga

Latest Ratings

INTCJP MorganMaintains70.0
STMCanaccord GenuityMaintains47.0
ELDeutsche BankMaintains248.0
UAADeutsche BankMaintains13.0
INTCDeutsche BankMaintains55.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at