Beyond Meat (BYND) Earnings And Price Target Drops

Shares of Beyond Meat (BYND) are down after reporting 1Q22 earnings. The rate of cash burn is very concerning, and slowing sales, increased competition and rising costs make it a precarious position for a company to be in, says Brian Holland of Cowen. Cowen lowered their price target to $26 from $42 but maintains a market perform rating on BYND. Food service is not developing as quickly as expected, says John Baumgartner of Mizuho. Mizuho lowered their price target to $21 from $35. Tune in for the full discussion with Nicole.