Beachbody (NASDAQ:BODI) Price Target Cut to $16.00 by Analysts at Canaccord Genuity Group

Beachbody (NASDAQ:BODI) had its target price lowered by stock analysts at Canaccord Genuity Group from $19.00 to $16.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group‘s price target would suggest a potential upside of 284.62% from the stock’s current price.

Several other research firms have also issued reports on BODI. Wall Street Zen lowered Beachbody from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings cut shares of Beachbody from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, October 6th. Finally, Roth Capital reaffirmed a “neutral” rating and set a $9.00 price target on shares of Beachbody in a report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Beachbody has a consensus rating of “Hold” and a consensus price target of $13.33.

Beachbody Stock Performance

Shares of NASDAQ:BODI opened at $4.16 on Friday. Beachbody has a 12-month low of $4.01 and a 12-month high of $16.87. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 0.58. The stock has a market cap of $30.28 million, a PE ratio of 2.55 and a beta of 0.96. The business has a 50 day moving average of $5.00 and a 200-day moving average of $9.09.

Beachbody (NASDAQ:BODI) last released its quarterly earnings results on Monday, August 10th. The company reported $0.11 EPS for the quarter. Beachbody had a net margin of 5.68% and a return on equity of 44.34%. The business had revenue of $49.61 million for the quarter. As a group, equities research analysts forecast that Beachbody will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On Beachbody

Several hedge funds and other institutional investors have recently made changes to their positions in BODI. Renaissance Technologies LLC lifted its stake in Beachbody by 94.9% in the 1st quarter. Renaissance Technologies LLC now owns 102,864 shares of the company’s stock valued at $1,117,000 after purchasing an additional 50,095 shares during the last quarter. Evernest Financial Advisors LLC bought a new stake in shares of Beachbody during the first quarter worth $316,000. Citadel Advisors LLC grew its stake in shares of Beachbody by 104.6% during the second 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 last quarter. NewEdge Advisors LLC acquired a new position in shares of Beachbody during the second quarter worth $145,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Beachbody during the first quarter worth $111,000. 74.48% of the stock is 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.