What to Expect When Beyond Meat Reports After the Close

By Chris Lange Updated Jan 6, 3:59AM EST · Published Jun 6, 11:45AM EDT

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What to Expect When Beyond Meat Reports After the Close — © YelenaYemchuk / Getty Images

Beyond Meat Inc. (NASDAQ: BYND) is scheduled to release its first-quarter financial results after the markets close on Thursday. The consensus estimates call for a net loss of $0.15 per share and $40 million in revenue.

This company came public in early May, and it has seen a meteoric rise, with shares up about 56% since the initial public offering.

The corporate news that has driven shares higher is that Beyond Meat is now set to make products for the Europe markets at a Dutch facility. Specifically, the company has entered into a partnership with Zandbergen World’s Finest Meat to produce its plant-based products there starting in 2020.

Recall that Beyond Meat’s IPO was to include 9.625 million shares at $25 apiece. However, it opened at roughly $46 and went as high as the $70s to end its first day of trading with a $3.7 billion market cap.

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Merrill Lynch has started Beyond Meat at Neutral with an $85 price objective. The firm’s Bryan Spillane is optimistic about the growth prospects, with such a large addressable market in the $270 billion U.S. and $1.4 trillion global meat industry. Yet, being up over 200% since its IPO and valued at 16 times expected 2020 revenue is too rich for a Buy rating. While its high-priced alternative to traditional meat is a risk, so is a wave of competitors flooding the market, as well as the company’s own ability to keep its production pace up with demand.

A few other analysts weighed in on Beyond Meat ahead of the report:

Goldman Sachs started Beyond Meat with a Neutral rating and a $67 price target.
Jefferies started coverage at Hold with an $85 target price.
JPMorgan started it with an Overweight rating and a $97 target price.
William Blair started it as Market Perform.
Credit Suisse initiated coverage with a Neutral rating and a $70 target.

Shares of Beyond Meat traded down about 3% at $99.76 on Thursday, in a 52-week range of $45.00 to $108.67. The consensus price target is $81.00.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.