Beyond downgraded to Hold at Needham on lower revenue forecasts

As previously reported, Needham analyst Bernie McTernan downgraded Beyond (BYON) to Hold from Buy and removed its prior $9 price target citing the significant reduction it has made in its revenue estimates over the past six months. Management has done a better than expected job at taking costs out and driving margins, but the firm is pushing its view of when the company will reach adjusted EBITDA profitability out by a year to FY27, the analyst tells investors.