Shares of Beyond Meat (BYND) - Get Beyond Meat, Inc. Report , the maker of plant-based meat, were declining 7.9% Monday ahead of the company's release of second-quarter earnings after the closing bell.
The El Segundo, California-based company is expected by analysts to report a loss of $4.5 million, or 9 cents a share. A year ago, before the company went public, it reported a net loss of $7.4 million. Analysts are expecting a 203.5% increase in revenue to $50.7 million.
Beyond Meat, which is valued at more than $13 billion, reported a first-quarter loss of 14 cents a share on revenue of $40.2 million.
The stock has risen more than 820% since it debuted on the Nasdaq Stock Market on May 2.
Monday's pullback may be valuation induced as the stock is currently trading at a forward EV-sales multiple of 48.9%.
The company has benefited recently from high-profile partnerships with established brands. Most recently, Dunkin' Brands (DNKN) - Get Dunkin' Brands Group, Inc. Report unveiled the Beyond Sausage Breakfast Sandwich.
All eight analysts that cover Beyond Meat have a hold rating on the stock with the average price target standing at $115.67 a share, a downside of about 48% from the stock's current price of $216.30.
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