Consumer Products

What to Expect When Beyond Meat Reports After the Close

Chris Lange

Beyond Meat Inc. (NASDAQ: BYND) is scheduled to release its most recent quarterly results after the markets close on Monday. The consensus estimates are calling for a net loss of $0.08 per share and $52.71 million in revenue.

The wildly successful public stock offering of Beyond Meat has introduced many Americans to the idea of meat substitutes made from a variety of plant-based components. Meat substitutes are not a brand new development (tofu has been around for centuries), but there’s nothing like star power, and Beyond Meat definitely has that.

Partly that’s a result of being first out of the chute and partly because the success of the company’s products took most investors and consumers by surprise. Beyond Meat’s startling price run-up has led analysts at Barclays to forecast a global market for meat substitutes of $140 billion worldwide in the next 10 years.

In the United States (and in many other developed countries), the projected growth generally is attributed to two factors. First, some consumers believe that plant-based meat substitutes are healthier than traditional meat products. Second, consumers are becoming more aware of the environmental impacts of raising and eating meat.

Excluding Monday’s move, Beyond Meat had outperformed the broad markets, with its stock up over 250% since it came public in May.

Here’s what analysts said ahead of the report:

  • Credit Suisse has a Neutral rating with a $125 price target.
  • Sanford Bernstein has a Market Perform rating and a $123 target.
  • JPMorgan has a Neutral rating with a $121 price target.
  • Merrill Lynch has a Neutral rating and a $101 price objective.
  • Jefferies has a Hold rating with a $105 target price.

Shares of Beyond Meat traded down about 2.5% Monday to $228.14, in a post-IPO range of $45.00 to $239.71. The consensus price target is $115.67.