The Beachbody Co Inc (NYSE: BODY) is trading significantly lower Tuesday after the company announced third-quarter revenue was down year-over-year and issued guidance below estimates. Beachbody reported a quarterly adjusted EBITDA loss of $43.4 million versus adjusted EBITDA of $31.4 million year-over-year.
Why is Beachbody stock falling?
Beachbody and Peloton stocks have also fallen in response to The Wall Street Journal reporting that rival IFIT Health & Fitness is gearing up for an IPO. The possibility of another fitness stock coming to market might be causing some potential investors to hold off. Will BODY stock recover?
What happened to the Beachbody company?
The fitness subscription company reported earnings and investors were not at all pleased with the results. Shares of The Beachbody Company ( BODY 4.17%), which provides fitness subscription services and sells fitness and wellness products, fell sharply in early trading on Nov. 16, dropping as much as 27.5% in the first few minutes of trading.
Should you buy Beachbody stock after it goes public?
With Beachbody going public, investors now have more fitness stocks to choose from. Should BODY or PTON stock be in your portfolio? If your investment budget can accommodate it, holding both Beachbody and Peloton stocks in your portfolio would be beneficial considering the fitness industry's bright prospects.
What is Beachbody stock's (body) upside potential?
Currently, BODY stock carries a 12-month target price of $12.75, which implies 14 percent upside potential to the current price. The highest Beachbody stock price prediction of $14.50 suggests a 30 percent upside.
Why does beachbody Stock keep dropping?
This drop was driven by the number of nutrition subscriptions decreasing to 0.34 million, from 0.44 million in the third quarter of last year. The bottom-line picture was equally bad. Net loss was $39.9 million, or $0.13 per share, compared to net income of $13.8 million, or $0.05 per share, in the year-ago period.
Will beachbody stock go back up?
Beachbody Company Inc (NYSE:BODY) The 6 analysts offering 12-month price forecasts for Beachbody Company Inc have a median target of 2.00, with a high estimate of 2.50 and a low estimate of 1.00. The median estimate represents a +29.87% increase from the last price of 1.54.
Is beach body stock a buy?
Is Beachbody a buy right now? 5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Beachbody in the last year. There are currently 1 sell rating, 3 hold ratings and 1 buy rating for the stock. The consensus among Wall Street analysts is that investors should "hold" Beachbody stock.
What happened to beachbody?
The Beachbody Company and MYXfitness Going Public Through A 3-Way SPAC Merger. On 10 February 2021, The Beachbody Company and MYXfitness entered into a definitive agreement to complete a 3-way merger with Forest Road Acquisition Corp. (FRX), a special purpose acquisition company, or SPAC.
Is beachbody losing money?
On the top line, The Beachbody Company's third-quarter 2021 sales were down 17% year over year. Digital revenue dropped 5% and nutrition sales fell 29%.
Is beachbody a profitable company?
Beachbody Company isn't currently profitable, so most analysts would look to revenue growth to get an idea of how fast the underlying business is growing. Generally speaking, companies without profits are expected to grow revenue every year, and at a good clip.
Who owns Beachbody LLC?
Carl DaikelerCarl Daikeler is Co-Founder, Chairman and Chief Executive Officer of The Beachbody Company, a leader in digital at-home fitness and nutrition with a 20+ year record of creating innovative content and powerful brands.
Did chalene quit Beachbody?
Well, it's time to tell the story, set the record straight and put the rumors to rest. Preamble: It's important to note that I still do create workouts (for friends, family and myself) and fitness is still (and always will be) a big part of my life!
Is Beachbody still an MLM?
In short, yes. Beachbody is an MLM. While its consultants might describe it as "direct sales" and make a point that you might buy protein powder from a store, so why not buy it from a friend instead and help them earn a living, there's an essential piece to the puzzle they are leaving out.
What company is Beachbody merging with?
Myx Fitness Holdings, LLCNEW YORK & SANTA MONICA, Calif., June 28, 2021--(BUSINESS WIRE)--The Beachbody Company Group, LLC ("Beachbody") today announced the three-way business combination with Myx Fitness Holdings, LLC ("Myx") and Forest Road Acquisition Corp.
Key Points
After a big business boost during the pandemic, it looks like The Beachbody Company is starting to see things return to normal. But what is normal?
NYSE: BODY
You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More
What happened
Shares of The Beachbody Company ( BODY 0.50% ), which provides fitness subscription services and sells fitness and wellness products, fell sharply in early trading on Nov. 16, dropping as much as 27.5% in the first few minutes of trading. About a half an hour into the day the stock was still off by roughly 25%.
So what
On the top line, The Beachbody Company's third-quarter 2021 sales were down 17% year over year. Digital revenue dropped 5% and nutrition sales fell 29%. The company's connected fitness revenue was $5.9 million, however the division wasn't a part of the company in the year-ago period (it was acquired in June), so there's no comparison point.
Now what
The Beachbody Company was able to benefit from social distancing and work-from-home trends during the 2020 lockdowns. However, those were clearly temporary events. Now that the world is opening up again, it looks like last year was more of a windfall year than a new normal.
Premium Investing Services
Invest better with the Motley Fool. Get stock recommendations, portfolio guidance, and more from the Motley Fool's premium services.
What happened
Shares of The Beachbody Company (NYSE: BODY), which provides fitness subscription services and sells fitness equipment and wellness products, were lower by as much as 16.5% in morning trading on Nov. 17.
So what
The big share price dive on Nov. 16 was really all about Wall Street's reaction to The Beachbody Company's weak quarterly results. Sales were down across its main businesses. Earnings fell notably year over year, dipping into the red.
Now what
The Beachbody Company is not a good option for conservative long-term investors. Although it benefited from the pandemic, it's not yet clear how it will perform in a more normal business environment. Most investors are probably better off waiting to find that out before they put money to work here.
Why is Beachbody (BODY) stock falling?
Beachbody stock made its public debut on Jun. 28, gaining more than 6 percent on the first day of trading to close at about $13. BODY's decline to under $10 can be attributed to several factors.
Will BODY stock recover?
After BODY stock falls to under $10, many investors see a limited downside. Beachbody shares rose about 2 percent in premarket trading on Jul. 15, a sign that some investors are moving to buy the dip. A rush to accumulate the stock should drive BODY back up.
Beachbody (BODY) stock's price prediction
Analyst's average price target for Beachbody stock is $13.83, which implies an upside of more than 70 percent. Their highest target for BODY is $16 and their lowest is $11, which the stock has dropped below.
Is BODY stock a good long-term investment?
With its broad range of fitness, nutritional products, and digital subscriptions, Beachbody is positioned for growth. Between 2020 and 2025, the company forecasts its revenue growing 30 percent compounded annually to reach $3.3 billion from $880 million.
About Beachbody
The Beachbody Company, Inc. operates as a digital fitness and nutrition subscription company. It operates Beachbody, an on-demand streaming platform; Openfit, a live digital streaming platform; and Myx fitness, a fitness brand platform.
Headlines
Thinking about buying stock in Phunware, Beachbody Company, Rush Street Interactive, Exela Technologies, or Riot Blockchain? - Benzinga
Beachbody (NYSE:BODY) Frequently Asked Questions
5 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Beachbody in the last twelve months. There are currently 1 sell rating, 3 hold ratings and 1 buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" Beachbody stock.
Will Beachbody (BODY) stock go up?
Beachbody’s pullback on the second day erased all of its first-day gains and more. Many investors wonder whether BODY stock will recover. The stock was rising in the premarket session on June 30, which is a sign that some investors are taking advantage of the pullback to buy the dip.
Beachbody stock price prediction
Wall Street's coverage of Beachbody is still minimal. Currently, BODY stock carries a 12-month target price of $12.75, which implies 14 percent upside potential to the current price. The highest Beachbody stock price prediction of $14.50 suggests a 30 percent upside.
Is Beachbody stock a good buy now?
Beachbody’s subscribers base is expanding and recently hit 3.2 million. Its subscriber retention rate is also great at about 96 percent. Subscription sales provide recurring revenue and make the business more predictable.
Is Beachbody better than Peloton?
With Beachbody going public, investors now have more fitness stocks to choose from. Should BODY or PTON stock be in your portfolio? If your investment budget can accommodate it, holding both Beachbody and Peloton stocks in your portfolio would be beneficial considering the fitness industry's bright prospects.
