Beyond Meat stock may soon double

2022 was a solid yesr for Beyond Meat, as the company struggles with historic inflationary forces and a significant slowdown in plant-based meat sales. But there are growing signs that the organization may be in transition— Last week, the company unveiled a series of strategic moves to reverse its declining sales – including hiring a former Red Bull executive as its new head of global marketing. Pivoting its retail strategy and creating a new plant-based nugget for McDonald’s.

In light of these and other developments, some NASDAQ analysts are suggesting that Beyond’s stock could double in value as early as 2023.

getting stronger

Since the start of the year, Beyond’s stock price has risen steadily — on Wednesday, its shares outperformed the NASDAQ Composite and the Dow Industrial Average, rising 2.85% to $17.68

According to Nasdaq analysts, Beyond could have significant profit potential in 2022 after several disappointing quarters. Companies that posted poor financial returns last year but are now recovering and doubling their YOY performance, Beyond could see solid gains as it embarks on focused strategies to win back consumers.

The company’s revenue fell 22% in Q3 2022 – and analysts are predicting it will fall 25% in Q4. But potential optimism around Beyond’s new strategy could create a profitable short squeeze, Nasdaq said, as the market’s current appetite for risk is high, and the stock’s volatility repels some investors while strongly attracting others.

While long-term investors have faith and trust in Beyond’s management and growth strategy, Nasdaq says, the company’s success Ultimately depends on winning back favor with consumers by improving the quality of its products and offering more competitive prices, among other motivating factors.

Plant-based Beyond Steak
© Out of the flesh

A new chapter?

Following an overall challenging year for the plant-based industry, could 2023 usher in bold changes? Recently, Beyond’s main competitor Impossible Foods announced that it will launch a major marketing campaign to increase consumer awareness and drive sales – along with Beyond’s new targeted strategies, these initiatives could potentially make 2023 a comeback year for the industry. As adverse economic conditions linger, this is definitely something investors should be watching closely.

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