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Beyond Meat Slides on Broader Market Volatility, Sales Growth is Key, say Analysts

Beyond Meat stock price

Beyond Meat (NASDAQ: BYND) stock price has been on a roller coaster since it began trading on the New York stock exchange early last year. The vegetarian food producer’s aggressive sales growth remains the biggest driver of its share price performance over the past few months. Beyond Meat stock price bounced back early this year before plunging on broader market volatility over the past month.  The shares are currently hovering around $90, down substantially from an all-time high of $240, set last July.

BYND Beyond Meat, Inc. daily Stock Chart

The company generated year-on-year revenue growth of 212 per cent in the final quarter of 2019, while full-year revenue jumped 239 per cent compared to the same period a year ago. Sales are driven by expanding into international markets along with growing its distribution outlets. Its gross margin improved sharply to 34 per cent in the fourth quarter from the past year period.

Beyond Meat Slides on...

It expects fiscal 2020 revenue in the range of $490m  to $510m, representing a growth of 64 to 71 per cent from 2019.

“In 2020, we seek to build on this foundation while continuing to prioritize aggressive growth by increasing our intensity with respect to our marketing and research and development initiatives, and accelerating our global expansion plans to capitalize on our strong positive momentum,” said chief financial officer and treasurer Mark Nelson.

Credit Suisse has also increased its 2020 sales estimates to $470m from an earlier estimate of $380m; the firm expects 2021 revenue to stand around $681m. The firm also anticipates growth in earnings over the coming years.

Credit Suisse anticipates Beyond Meat shares to bounce back sharply in the coming days, setting a price target of $125.

The market pundits are also not ruling out the possibility of its acquisition by large rivals such as Starbucks (NASDAQ: SBUX). This is because Starbucks recently said it is exploring more environment-friendly plant-based menu options as part of a multi-decade goal to become more environmentally friendly.

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Based in Saudi Arabia, Siraj has a strong understanding of and passion for accounting and finance. He has worked for international clients for many years on several projects related to the stock market, equity research and other business, accounting and finance related projects. Siraj is a published financial analyst on the world's leading websites including SeekingAlpha, TheStreet, MSN, and others.