Beyond price target lowered to $15.50 from $19 at BofA

BofA lowered the firm’s price target on Beyond to $15.50 from $19 and keeps a Neutral rating on the shares. The firm cites recent conversations with Beyond and web traffic data, as well as soft trends in Q2 that may continue into Q3 and potentially Q4, the analyst tells investors in a research note. Despite improving industry data, soft trends are consistent with slowing web traffic trends from April to May following the relaunch of Overstock in late-March and management commentary that 2024 is a rebuilding year, the firm says.