Beachbody (NASDAQ:BODI) Upgraded to Buy at Wall Street Zen

Beachbody (NASDAQ:BODI) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

Other equities research analysts have also issued research reports about the company. Canaccord Genuity Group upped their price target on Beachbody from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Weiss Ratings raised Beachbody from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Roth Mkm reiterated a “neutral” rating and issued a $13.00 target price on shares of Beachbody in a report on Wednesday, May 13th. Craig Hallum began coverage on shares of Beachbody in a report on Monday, March 2nd. They set a “buy” rating and a $15.00 price target for the company. Finally, Noble Financial restated an “outperform” rating on shares of Beachbody in a research report on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $15.67.

Beachbody Price Performance

BODI stock opened at $10.20 on Friday. The company has a market capitalization of $73.88 million, a P/E ratio of 15.23 and a beta of 1.01. The company has a fifty day moving average price of $11.47 and a 200-day moving average price of $10.69. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.64 and a current ratio of 0.76. Beachbody has a 52-week low of $3.75 and a 52-week high of $16.87.

Beachbody (NASDAQ:BODI) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.40. The company had revenue of $54.28 million for the quarter, compared to analysts’ expectations of $51.77 million. Beachbody had a net margin of 2.21% and a return on equity of 33.74%. As a group, equities analysts expect that Beachbody will post 0.37 EPS for the current year.

Hedge Funds Weigh In On Beachbody

A number of institutional investors have recently modified their holdings of BODI. Renaissance Technologies LLC lifted its holdings in shares of Beachbody by 94.9% in the 1st quarter. Renaissance Technologies LLC now owns 102,864 shares of the company’s stock worth $1,117,000 after purchasing an additional 50,095 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in Beachbody during the 1st quarter valued at $111,000. Evernest Financial Advisors LLC acquired a new position in Beachbody during the first quarter worth $316,000. North Star Investment Management Corp. acquired a new position in Beachbody during the first quarter worth $163,000. Finally, Bard Associates Inc. bought a new position in shares of Beachbody in the fourth quarter valued at $32,000. 74.48% of the stock is owned by institutional investors and hedge funds.

Beachbody Company Profile

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.