The company now boasts a market valuation of more than $12 billion dollars, a number many Wall Street analysts have found difficult to justify.
Shares of the newly-public company soared more than 7% in early trading Tuesday, extending its post-IPO gains to as much as 734%. The gains also lifted shares above the $200-a-share threshold for the first time.
These latest milestones come amid optimism around Beyond's second-quarter earnings report on July 29. It's largely expected that the company will beat analyst expectations, delivering a repeat of its first-quarter 2019 earnings.stock climbed more than 20%However, the company's market valuation of more than $12 billion has some Wall Street analysts puzzled. Out of the nine analysts tracked by Bloomberg, eight have"hold" ratings on the stock, while one has issued a"sell.
this much. For context, it's current market cap is roughly the same as Campbell Soup, which has produced staples for American households for decades. The stakes for Beyond are high, considering the market for plant-based meat could reach $140 billion in the next decade, according to anRight now, there are few other options for investors looking to capitalize on plant-based meat, as Beyond Meat is the first company of its kind to go public. And while other, more traditional companies such as
are getting in on plant-based meat alternatives, those companies don't appeal to investors looking to sidestep traditional animal protein.
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