Beachbody (NYSE:BODI) Receives Buy Rating from Canaccord Genuity Group

Beachbody (NYSE:BODI - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Canaccord Genuity Group in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $13.00 target price on the stock. Canaccord Genuity Group's price target suggests a potential upside of 70.16% from the stock's previous close.Beachbody Trading Down 4.5 %Shares of BODI stock traded down $0.36 on Friday, reaching $7.64. 6,763 shares of the stock were exchanged, compared to its average volume of 14,902. Beachbody has a 1-year low of $5.14 and a 1-year high of $10.80. The stock has a market cap of $52.90 million, a P/E ratio of -0.49 and a beta of 1.13. The company has a quick ratio of 0.52, a current ratio of 0.64 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average of $7.29 and a two-hundred day moving average of $6.67. Institutional Trading of BeachbodyInstitutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. acquired a new position in Beachbody during the third quarter valued at approximately $625,000. Raine Group LLC acquired a new position in shares of Beachbody during the 3rd quarter valued at $25,000. Raine Capital LLC purchased a new stake in Beachbody during the 3rd quarter worth $4,287,000. Finally, Summit Financial LLC purchased a new position in Beachbody in the fourth quarter valued at about $104,000. Hedge funds and other institutional investors own 74.48% of the company's stock. Beachbody Company Profile (Get Free Report)The Beachbody Company, Inc operates as a subscription health and wellness company that provides fitness, nutrition, and stress-reducing programs in the United States and internationally. The company operates Beachbody on Demand, a digital subscription platform that provides access to a library of live and on-demand fitness and nutrition content; and Beachbody on Demand Interactive (BODi) for live fitness and nutrition programs.Featured ArticlesFive stocks we like better than BeachbodyWhat is Insider Trading? What You Can Learn from Insider TradingWhy Dollar Tree’s Family Dollar Sale Could Spark a ComebackWhat does consumer price index measure? JPMorgan: The 'NVIDIA of Banking' Poised for More Gains?What is an Earnings Surprise? Buy the Chewy Stock Reversal? Here’s Why Now Is the TimeThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Beachbody Right Now?Before you consider Beachbody, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Beachbody wasn't on the list.While Beachbody currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here