By Josh Beckerman
Beyond shares were down after Jefferies reduced its price target for the e-commerce company, citing "peer multiple compression and a deteriorating macro environment."
The stock was recently down 13% to $5.34. It is up about 14% this year but down about 84% for the last 52 weeks.
Jefferies lowered its target to $6.50 from $7.25 and reiterated its hold rating.
Beyond, whose brands include Bed Bath & Beyond and Overstock, announced executive changes and cost-cutting plans at 8:00 a.m. ET. The last pre-market stock price was $6.06, according to Nasdaq.com.
The company said Executive Chairman Marcus Lemonis will be its principal executive officer and said Chief Financial Officer Adrianne Lee will have the additional role of president.
Beyond terminated the employment of Dave Nielsen, who was president and principal executive officer.
Lemonis is CEO of Camping World Holdings and was the star of CNBC's "The Profit." Camping World shares were down 8% to $16.29 Monday.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
March 10, 2025 13:26 ET (17:26 GMT)
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