Beyond Meat stock (NASDAQ: BYND) has dropped below $100 recently after the company reported a bleak outlook for Q3 2021. The stock has dropped more than 2% in the last one month. If you look at the stock movement over the past one year, BYND stock dropped below $100 for the first time toward the end of Oct 2021 in the last one year. (The last time it fell to below $100 was when the pandemic first struck in early 2020.) This recent drop was after the company reduced its third-quarter net revenue outlook in its recent release. Beyond Meat now expects revenue of roughly $106 million, up around 12% year over year. This is much lower compared to the previous guidance of $120 million to $140 million, or growth of 27% to 48% year over year, which the company provided just less than three months ago. This marks a sharp deceleration from the company’s recent growth rate. To put this into perspective, net revenue grew 32% y-o-y in Q2 2021. Beyond Meat cited a number of factors as possible contributors, including the impact of the Covid-19 delta variant on demand. The company also said order volume from a Canadian distributor slumped for longer than expected, incremental orders never materialized after a big customer changed distributors, and a delayed expansion driven by labor shortages, among other challenges.
Now, is BYND stock set to drop further or could we expect some recovery? We believe that there is only a 34% chance of a rise in BYND stock over the next month (21 trading days) based on our machine learning analysis of trends in the stock price over the last two and a half years. See our analysis on BYND Stock Chance of Rise. To see how Beyond Meat stands in comparison to its peers, check our analysis on Beyond Meat vs Bunge.
Twenty-One Day: BYND -2.3%, vs. S&P500 7.1%; Underperformed market
(52% likelihood event; 34% probability of rise over next 21 days)
- BYND stock decreased 2.3% the last twenty-one trading days (one month), compared to a broader market (S&P500) rise of 7.1%
- A change of -2.3% or more over twenty-one trading days is a 52% likelihood event, which has occurred 319 times out of 615 in the last two and a half years
- Of these 319 instances, the stock has seen a positive movement over the next twenty-one trading days on 110 occasions
- This points to a 34% probability for the stock rising over the next twenty-one trading days
Ten Day: BYND 2.4%, vs. S&P500 2.9%; Underperformed market
(37% likelihood event; 52% probability of rise over next 10 days)
- BYND stock increased 2.4% over the last ten trading days (two weeks), compared to broader market (S&P500) rise of 2.9%
- A change of 2.4% or more over ten trading days is a 37% likelihood event, which has occurred 233 times out of 626 in the last two and half years
- Of these 233 instances, the stock has seen a positive movement over the next ten trading days on 121 occasions
- This points to a 52% probability for the stock rising over the next ten trading days
Five Day: BYND -1.3%, vs. S&P500 1.9%; Underperformed market
(46% likelihood event; 50% probability of rise over next five days)
- BYND stock decreased 1.3% over a five-day trading period ending 11/08/2021, compared to the broader market (S&P500) rise of 1.9%
- A change of -1.3% or more over five trading days (one week) is a 46% likelihood event, which has occurred 291 times out of 631 in the last two and half years
- Of these 291 instances, the stock has seen a positive movement over the next five trading days on 146 occasions
- This points to a 50% probability for the stock rising over the next five trading days
What if you’re looking for a more balanced portfolio instead? Here’s a high-quality portfolio that’s beaten the market consistently since 2016.
Invest with Trefis Market Beating Portfolios
See all Trefis Price Estimates