Bed Bath & Beyond Inc. [NASDAQ: BBBY] stock went on an upward path that rose over 1.51% on Wednesday, amounting to a one-week price decrease of less than -2.25%. The company report on September 22, 2021 that Bed Bath & Beyond And DoorDash Expand Partnership For Nationwide On-Demand Delivery.
Bed Bath & Beyond Becomes First Home Retailer Available on the DoorDash Marketplace.
Bed Bath & Beyond® (Nasdaq: BBBY) announced a partnership with DoorDash (NYSE: DASH), the nation’s leading last-mile logistics platform, to offer consumers on-demand delivery of essential homeware products and items from more than 700 Bed Bath & Beyond locations and nearly 120 buybuy BABY® locations nationwide. With this partnership, Bed Bath & Beyond becomes the first home retailer and buybuy BABY the first baby goods retailer available on the DoorDash marketplace app and website.
Over the last 12 months, BBBY stock rose by 68.79%. The one-year Bed Bath & Beyond Inc. stock forecast points to a potential upside of 24.12. The average equity rating for BBBY stock is currently 3.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $2.38 billion, with 106.77 million shares outstanding and 100.94 million shares in the current float. Compared to the average trading volume of 3.75M shares, BBBY stock reached a trading volume of 1707302 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Bed Bath & Beyond Inc. [BBBY]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BBBY shares is $30.93 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BBBY stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
B. Riley Securities have made an estimate for Bed Bath & Beyond Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 01, 2021. While these analysts kept the previous recommendation, BofA Securities raised their target price to Buy. The new note on the price target was released on June 24, 2021, representing the official price target for Bed Bath & Beyond Inc. stock. Previously, the target price had yet another raise to $19, while Credit Suisse analysts kept a Neutral rating on BBBY stock. On April 15, 2021, analysts decreased their price target for BBBY shares from 40 to 30.
The Average True Range (ATR) for Bed Bath & Beyond Inc. is set at 1.14, with the Price to Sales ratio for BBBY stock in the period of the last 12 months amounting to 0.24. The Price to Book ratio for the last quarter was 2.26, with the Price to Cash per share for the same quarter was set at 11.10. Price to Free Cash Flow for BBBY in the course of the last twelve months was 5.68 with Quick ratio for the last quarter at 0.80.
BBBY Stock Performance Analysis:
Bed Bath & Beyond Inc. [BBBY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.25. With this latest performance, BBBY shares dropped by -14.28% in over the last four-week period, additionally sinking by -14.93% over the last 6 months – not to mention a rise of 68.79% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BBBY stock in for the last two-week period is set at 36.34, with the RSI for the last a single of trading hit 34.83, and the three-weeks RSI is set at 38.92 for Bed Bath & Beyond Inc. [BBBY]. The present Moving Average for the last 50 days of trading for this stock 27.12, while it was recorded at 23.56 for the last single week of trading, and 26.98 for the last 200 days.
Insight into Bed Bath & Beyond Inc. Fundamentals:
Bed Bath & Beyond Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.60.
Bed Bath & Beyond Inc. [BBBY] Insider Position Details
There are presently around $2,551 million, in the hands of institutional investors. The top three institutional holders of BBBY stocks are: BLACKROCK INC. with ownership of 17,251,927, which is approximately -14.089% of the company’s market cap and around 3.00% of the total institutional ownership; FMR LLC, holding 13,870,625 shares of the stock with an approximate value of $325.54 million in BBBY stocks shares; and VANGUARD GROUP INC, currently with $275.68 million in BBBY stock with ownership of nearly -9.008% of the company’s market capitalization.
114 institutional holders increased their position in Bed Bath & Beyond Inc. [NASDAQ:BBBY] by around 20,960,356 shares. Additionally, 156 investors decreased positions by around 15,472,508 shares, while 55 investors held positions by with 72,272,965 shares. The mentioned changes placed institutional holdings at 108,705,829 shares, according to the latest SEC report filing. BBBY stock had 56 new institutional investments in for a total of 8,434,410 shares, while 41 institutional investors sold positions of 3,982,547 shares during the same period.