"As we wrote last week, 'at some point, the extraordinary revenue and profit potential embedded in BYND... will be priced in' - we think this day has arrived," wrote analyst Ken Goldman.
The stock was downgraded from overweight to neutral.
But the downgrade isn't enough to keep investors from buying more Beyond. Here's what Jim Cramer thinks about the downgrade.
"No. And then you have to have a couple more. You have to have someone go to a sell. You have to have someone say that Impossible is doing better, which I think it is. But there is demand for Beyond Meat," said Cramer. "You have to have a major analyst say it tastes bad. These things could all happen. We'll see once no one wanted to get in its way in front of it, while it was going up. But once they trip it up, they can really be kicked when it's down, especially if the market turns down, as I think it will."