Is Bed Bath & Beyond (NASDAQ:BBBY) A Buy Or A Big No-No?

2 min read | June 03, 2021 09:59 AM PDT | By Anuj

Is Bed Bath & Beyond (NASDAQ:BBBY) A Buy Or A Big No-No? — Image source: William Potter,Shutterstock

Bed Bath & Beyond Inc (BBBY:US, NASDAQ:BBBY)

The retail-cyclical firm manages nearly 1,020 stores in the US, Canada, Mexico, and Puerto Rico. It has a market capitalization of US$ 3.62 billion.

BBBY stock was trading at US$ 32.54 apiece, with an intraday trading volume of 18.45 million on Thursday (12.24PM EST).

The consumer scrip has rocketed over 325 per cent in the last one year, led by the meme-based rally. This year, it has climbed 93.53 per cent.

Bed Bath & Beyond’s One-Year Price Performance Against Moving Average Multiple and Volume. (Source: EODHD/Others)

Reddit-based retail investors have bolstered its bull run against moving average multiples. There are two sharp spikes in its one-year price performance chart, both driven by the Redditors.

Its 10-day average volume of 16 million shares has surged over two times against its 30-day average volume of 7.5 million.

The company saw a surge in its digital sales amid the COVID-led lockdowns and posted more than US$ 3 billion in earnings from its e-commerce sales. It added 10.6 million new online clients in fiscal 2020, up 95 per cent compared to fiscal 2019.

The company reduced its gross debt by US$ 1 billion in fiscal 2020, which ended on February 27, 2021.

Bed Bath & Beyond’s Outlook for Fiscal 202

In its guidance for fiscal 2021, Bed Bath & Beyond foresees net sales between US$ 8 billion and US$ 8.2 billion. It expects adjusted EBITDA between US$ 500 million and US$ 525 million for the current fiscal year.

The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.