Beachbody: Restructuring, Product Launches, and Operating Leverage Drive a Compelling Buy Thesis

Susan Anderson, an analyst from Canaccord Genuity, reiterated the Buy rating on Beachbody Company. The associated price target remains the same with $9.00.

Susan Anderson has given his Buy rating due to a combination of factors that collectively support a favorable risk/reward profile for Beachbody. She points to the company’s substantial restructuring efforts, which have dramatically lowered the revenue needed to reach positive adjusted EBITDA by streamlining operations, exiting the MLM model, and shedding unprofitable lines such as exercise equipment. These actions have already translated into improved profitability metrics, including sustained positive adjusted EBITDA, a move toward positive net income, and a sharp improvement in free cash flow trends. Anderson also notes management’s expectation that revenue should begin to grow again in 2026 and 2027, suggesting that the business is approaching a top-line inflection point.
In addition, Anderson emphasizes the upcoming slate of product launches as a key driver of potential upside. The company is rolling out new digital fitness content, including a new P90X program for the first time in many years, alongside the expansion of branded nutritional supplements such as P90X and Insanity lines into retail channels. Shakeology’s planned move into brick-and-mortar distribution, after generating billions in cumulative sales online, is seen as another catalyst for growth. Finally, the combination of high-margin digital fitness, solid-margin nutrition products, and a leaner cost base positions Beachbody to benefit from operating leverage as sales recover, supporting her conviction in a Buy recommendation.

According to TipRanks, Anderson is a 5-star analyst with an average return of 18.2% and a 44.76% success rate. Anderson covers the Consumer Cyclical sector, focusing on stocks such as Ulta Beauty, Sally Beauty, and Peloton Interactive.