The primary catalyst for the subscription fitness and wellness company stock's drop was its release of a weak third-quarter report, which included a significant reduction in full-year guidance. Since Beachbody went public on June 28 via a special acquisition purpose company (SPAC), its shares have plunged 80%, as of Dec. 6.
Full Answer
Will Beachbody stock recover?
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. Wall Street's coverage of Beachbody is still minimal.
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.
How much of Beachbody's stock is owned by institutions?
Only 17.36% of the stock of Beachbody is held by institutions. Earnings for Beachbody are expected to grow in the coming year, from -0.52 to -0.20 per share. Beachbody has a P/B Ratio of 4.23.
Is Beachbody stock a buy to buy on the dip?
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. 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.
Why is the Beachbody stock going down?
Management lowered its full-year revenue guidance, citing "delayed product launches, media spend reassessment, COVID-related consumer behavior and market uncertainty." For 2021, it now expects the following: Revenue between $820 million and $830 million, down from the prior outlook of $930 million to $960 million.
Will beachbody stock ever recover?
4 Wall Street analysts have issued 1-year target prices for Beachbody's stock. Their forecasts range from 2.00 to 15.00. On average, they anticipate Beachbody's share price to reach 6.00 in the next year. This suggests a possible upside of 294.7% from the stock's current price.
Is Beachbody losing money?
In November, Beachbody reported that quarterly sales fell 17% to $208.1 million, and posted a loss $43.4 million before interest, taxes, depreciation and amortization.
Is Beachbody a good investment?
The Beachbody Company, Inc. We therefore hold a negative evaluation of this stock.
Is beachbody doing well?
Digital revenue decreased 5% compared to 2020 and increased 38% compared to 2019. However, it added 1% to its digital subscribers with 2.64 million (a 55% increase compared to 2019). Additionally, digital retention on a month-over month basis was 95.6% (a 50-basis point increase).
Is beachbody a profitable company?
In 2017, revenue was estimated at $1 billion. In 2018, it dropped to $790 million and in 2019 it dropped further to $756 million. However in 2020, it rose to $880 million and for 2021, they are on track to reach $1.1 billion. Beachbody OnDemand users pay an annual fee of $99 to use the service.
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 out of business?
Beachbody will cease operations of Beachbody LIVE on March 1, 2020, according to an announcement from Beachbody.
Is Beachbody going under?
The Beachbody Company, which is based in Santa Monica, will become the parent of Myx, Openfit and Beachbody On Demand (BOD) upon the closing of the merger. It is anticipated that the transaction will close in Q2 2021 and the combined firm will be listed on the NYSE under the “BODY” ticker symbol.
Is Beachbody having issues?
No incidents reported today.
Who is the CEO of Beachbody?
Carl Daikeler (1998–)Beachbody / CEO
Is Beachbody going publicly traded?
Beachbody Co-founder, Chairman and CEO Carl Daikeler (front center) rang open the New York Stock Exchange on June 28, the first day the combined company now known as The Beachbody Company Inc. began trading publicly on the NYSE.
NYSE: BODY
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What happened
Shares of The Beachbody Company ( BODY -7.01% ) plummeted 50.6% in November, according to data from S&P Global Market Intelligence. This compares with the S&P 500 index's 0.8% decline last month.
So what
On Nov. 16, Beachbody stock dropped nearly 21% following the company's release of its third-quarter results after the market close on the prior day. It continued downward for the rest of the week, racking up a four-day post-earnings release loss of 40%.
Now what
Management lowered its full-year revenue guidance, citing "delayed product launches, media spend reassessment, COVID-related consumer behavior and market uncertainty." For 2021, it now expects the following:
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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.
