12/2/2023 0 Comments Beyond meat stock yahooAt Toronto’s annual Ideacity gathering three years later, he said his goal was to replicate the “ blueprint of meat.” By the time he appeared at Goldman Sachs Group Inc.’s Builders & Innovators Summit 2019, he explained that his mission demanded the urgency and scale the US mustered for World War II and that his products would simultaneously help solve heart disease, diabetes, cancer, climate change, natural resource depletion and animal welfare. In 2013 he took the stage at the Wired Business conference, explaining that the world had a very real greenhouse gas-emitting meat problem and that venture capitalists could make a bigger impact investing in fake meat than in solar energy. in 2009 with the then fantastical idea of making meat without animals, Ethan Brown has been giving the equivalent of one extremely long TED Talk. To read this article on click here.Ever since founding Beyond Meat Inc. (LYFT) : Free Stock Analysis Reportīeyond Meat, Inc. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. This is certainly intriguing with both stocks trading under $15 a share at the moment. The average Zacks Price Target suggests 18% upside for BYND stock and 140% upside for Lyft shares. When looking at their highs earlier in the year both stocks may be viable investments when concerns in the broader economy start to subside and more investors feel comfortable about investing in the future of ride-hailing and alternative plant-based foods. One thing is for sure, the risk to reward is a lot more favorable to invest in Lyft and Beyond Meat going into 2023 after their steep declines this year. This could help them continue down the road to profitability as they adjust to operating costs and a challenging economy. Although earnings estimates have trended down for both stocks over the last quarter, their long-term top line growth is still intriguing. Lyft and Beyond Meat stock both land a Zacks Rank #3 (Hold). Fiscal 2023 would be a 43% increase from pre-pandemic levels with 2019 sales at $298 million. Sales are forecasted to decline -10% in FY22 but rise 3% in FY23 to $428.29 million. Earnings estimates have gone down for BYND over the last quarter. Fiscal 2023 earnings are projected to stabilize but still reflect a loss of -$3.65 per share. Pivoting to Beyond Meat, earnings are now expected to drop -100% this year at -$5.74 per share compared to -$2.87 a share in 2021. FY23 would represent 34% growth from pre-pandemic levels with 2019 sales at $3.61 billion. On the top line, sales are projected to climb 27% this year and jump another 19% in FY23 at $4.86 billion. Over the last three years, both stocks are down over 80% since they began trading to underperform the benchmark’s 30% climb. Beyond Meat’s -79% with both severely underperforming the S&P 500’s -21%. Beyond Meats stock now trades around $13 per share as the excitement for its alternative meat faded over the last year.ĭespite the setbacks, this year’s massive drop in Lyft and Beyond Meat stock may be intriguing to many investors. and internationally.īYND began trading at $25 per share and popped to over $65 a share on the first day of trading. Beyond Meats sells its plant-based, vegan meats in the U.S. Despite a clearer road to profitability Lyft also trades below Uber stock at the moment with UBER shares at $25.īeyond Meat doesn’t have such a popular nemesis in its bid to expand its manufacturing, marketing, and distribution of plant-based meats. Lyft now trades at just $10 per share and 85% beneath its IPO price of $72 a share. Unlike its major competitor Uber Technologies UBER, Lyft has chosen to stick with its core ride-hailing business. Lyft primarily operates as a ridesharing service with multimodal transportation networks in the United States and Canada. Let’s see if they will be viable investments for 2023 and beyond.īoth Lyft and Beyond Meat went public during the first half of 2019. Two popular growth names trading near their lows are Lyft LYFT and Beyond Meat BYND. Still, the risk to reward could be favorable when such stocks are near their 52-week lows. Speculative growth stocks might be viewed as uneasy investments going into 2023 with inflationary concerns crushing these companies in 2022.
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