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Beyond Meat Shares Slide After Disappointing Q3 Earnings
Beyond Meat Shares Slide After Disappointing Q3 Earnings
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BTCCSquare news:
Beyond Meat's stock tumbled in after-hours trading following a weaker-than-expected third-quarter performance. The plant-based food producer reported a loss of $0.47 per share, wider than the $0.40 loss analysts anticipated. Revenue declined 13.3% year-over-year to $70.22 million, though it narrowly surpassed the $69 million consensus estimate.
Management's fourth-quarter revenue guidance of $60-$65 million fell short of Wall Street's $70.3 million expectation. Analysts maintain a cautious stance, with five Sell ratings and two Holds on the stock. The average price target of $2.08 suggests potential upside, but estimates may be revised downward after these results.
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