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Analyst Rupesh Parikh from Oppenheimer released a company update on Beyond Meat, Inc. (NASDAQ:BYND), noting that the company’s recent pricing action and continued aggressive discounting suggest ongoing challenges for the category and for the company’s prospects.
According to the analysts, their store checks over the weekend showed a reduction in the regular price (down 10% from the Fourth of July weekend) for the company’s burgers at the Costco in Wayne, NJ.
The analysts see difficulties in the company’s ability to ramp gross margins back to pre-pandemic levels. Oppenheimer said it would remain sidelined (reiterated perform rating) with the company’s shares amidst both fundamental challenges and dilution risks down the road to improve the company’s financial position.
