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Beyond Meat earnings — What to know in markets Thursday

Heidi Chung

Beyond Meat (BYND) is going to be garnering a lot of attention Thursday when it reports earnings after the bell.

The recent IPO has been on fire. After pricing at $25, the stock surged a whopping 310% since debuting as a public company. The broader market has fallen 3% in the same time period. However, like its IPO peers Uber (UBER) and Lyft (LYFT), Beyond Meat is not yet a profitable company. According to data compiled by Bloomberg, the company is expected to report an adjusted earnings loss of 15 cents per share on $38.94 million in revenue.

Given the stock’s meteoric rise over the past month, analysts are starting to take a more cautious stance. There are currently two Buy ratings on Beyond Meat stock, with seven Holds and zero Sells. The average 12-month price target is $71.34 per share, which is about 30% lower from Tuesday’s closing price.

In addition to analysts’ bearish outlook, notable short seller Andrew Left of Citron Research also argued that the stock has become “Beyond Stupid.”

However, despite the skepticism of the alternative meat business, many fast food restaurants are adding such products on their menus. Fast food giant Restaurant Brands (QSR) recently said that the meatless burgers are driving higher traffic to its Burger King stores.

Some other notable earnings reports scheduled for Thursday include Signet Jewelers (SIG) before the market open, DocuSign (DOCU) and Zoom Video (ZM) after the market close.

Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.

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