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.
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