Beyond Meat's Stock Plummets 73%, Revenue Continues to Decline
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Fool
- Revenue Decline: Beyond Meat's revenue fell from $418.9 million in 2022 to $326.5 million in 2024, indicating a significant drop in consumer demand for plant-based meat, leading to severe financial pressure on the company.
- Market Reaction: Although Beyond Meat's stock surged to $235 shortly after its IPO, it has now plummeted to below $1, reflecting investor concerns about the company's future prospects.
- Poor Channel Performance: A decline in sales across retail and foodservice channels suggests consumers are favoring traditional meat products, with management projecting a 15% to 22% year-over-year decline in fourth-quarter revenue, exacerbating market confidence issues.
- Investment Risks: With ongoing revenue declines and multiple challenges, Beyond Meat's stock is viewed as highly risky, prompting investors to carefully consider their positions in the company.
Analyst Views on BYND
Wall Street analysts forecast BYND stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for BYND is 0.93 USD with a low forecast of 0.80 USD and a high forecast of 1.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
0 Buy
1 Hold
4 Sell
Strong Sell
Current: 0.962
Low
0.80
Averages
0.93
High
1.00
Current: 0.962
Low
0.80
Averages
0.93
High
1.00
About BYND
Beyond Meat, Inc. is a plant-based meat company offering a portfolio of plant-based meats. The Company sells a range of plant-based meat products across its three core platforms of beef, pork and poultry. The primary components of animal-based meat are amino acids, lipids, carbohydrates, trace minerals and water, which are not exclusive to animals and are plentiful in plants. Its beef platform products contain protein primarily derived from one or a combination of pea protein, rice protein, faba bean protein and wheat gluten. Its pork platform products include Beyond Sausage, Beyond Breakfast Sausage Patties, Beyond Breakfast Sausage Links and Beyond Sausage Crumbles. Its poultry platform consists of products that mimic animal-based chicken in its various merchandised forms, including chicken tenders, chicken nuggets and popcorn chicken. Its primary products under its poultry platform include Beyond Chicken Tenders, Beyond Chicken Nuggets and Beyond Popcorn Chicken.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
