The stock is down on the heels of this report. That pursuit of growth opportunities is really offsetting some of that shorter term wins. Beyond's leadership team noted that the operating environment continues to be affected by near-term uncertainty related to macroeconomic issues.Īnalysts really expect Beyond Meat sales and profits to remain volatile until the company makes greater strides in containing operating expenses. That's according to an internal memo cited by Bloomberg. Ahead of earnings earlier today, the company eliminated about 40 positions as part of that broader cost cutting plan. That's true.But a really big point here is that Beyond Meat said it will be cutting 4% of its global workforce. I'll give you that.ĪLEXANDRA CANAL: That's true. SEANA SMITH: Some of the options are good. I want the real thing.ĪLEXANDRA CANAL: I don't want any fake meat. So many traditional players getting in to that line of business, the meat alternatives there, so it's a tough road ahead for Beyond Meat.ĪLEXANDRA CANAL: Yeah, I never go for jerky. The sheer competition in this space has been heating up. SEANA SMITH: Yeah, and also just the competition. So all of that considered, I am not certain which consumers are going to continue to opt to pay higher for a Beyond Meat offering, whether that's for the fridge or whether it's in the restaurant experience, especially as they're tightening some of their own costs. If you're looking at the upside there, guess what? They just restructured that business. It's a Beyond Meat company, a company that has meat in its name, that, yeah, saw slumping sales in its meat, as well, in every single category regionally. anything that you look at within these earnings report, which was lackluster- sure, it beat on some of the expectations that were already out there- but look across the category. Yeah, and some of the analysts that remain bullish on Beyond Meat, quite frankly, might just be high on sodium right now. And I wonder if that's going to really hurt them when they're trying to do these other partnerships. So I think this is a sector that saw insane amounts of growth and now it's not getting the same attention. I will say anecdotally, when I do go to my grocery store, I see the Beyond Meat packaging, but in terms of the excitement around alternative meat products, that has definitely faded over the past few months.ĭefinitely not what we saw a few years ago. So this is a company that is not growing. The pop today, though, and the results that we just got, not enough to convince many on the Street that this is a stock to buy at this point.ĪLEXANDRA CANAL: I'm surprised there's an 11% gain, because, let's not forget, year-over-year decline in revenue of 20%. We know Beyond Meat has been a pretty volatile stock as of late.

Piper Sandler remaining bearish, noting that the sales of its jerky business, which it recently launched, is hiding a greater acceleration in sales here to the downside across the rest of the company's portfolio.

Bernstein upped its price target to $18 from $10 while UBS raised its target to $17 from $12. Some analysts, though, did raise their price targets following these results.

So there are still no buy ratings on Beyond Meat right now. Rather, the round up on the street seems to be cautiously optimistic at best. Now, despite the pop that we're seeing in shares today, analysts aren't fully on board with Beyond Meat going forward. The rally is because of its Q4 sales beat and also that smaller than expected loss. We're looking at a gain of just about 11%, the biggest single day gain that we have seen now in quite some time. It's been the case all day here on Yahoo Finance. We've got Beyond Meat, Cineworld, and AMC. SEANA SMITH: It's time for our 'Triple Play.' Three stocks that we're watching in the final half hour of trading. Yahoo Finance Live checks out Beyond Meat shares following its latest earnings report and adjustments in sales figures.

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