Beachbody

BODI · NYSE

$4.30−$0.07 (−1.60%)TodayMarket closed · Oct 20, 7:55 PM ET

Prev close $4.37

BODI analyst rating

BuyConsensus of 1 analyst over the last 12 months. 100% rate it a buy.

Strong buy0
Buy1
Hold0
Underperform0
Sell0

12-month price target · 6 analysts

Average $17.34 (+303.3% upside)

Low: $9.09
Now: $4.30
High: $23.10

Upgrades and downgrades

The latest rating actions, newest first

BODI analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Canaccord Genuity	May 5, 2026	Maintains	Buy	$15.00 → $19.00	42%
Canaccord Genuity	Mar 11, 2026	Maintains	Buy	$12.00 → $15.00	42%
Canaccord Genuity	Mar 10, 2026	Maintains	Buy	$9.00 → $12.00	42%
Canaccord Genuity	Nov 11, 2025	Maintains	Buy	$7.00 → $9.00	42%

The case for and against

Updated Nov 30, 2024

Bull case

Beachbody Co. Inc. demonstrated a robust financial performance, highlighted by a gross margin of 67.7%, which surpassed expectations and showed significant year-over-year growth due to improved inventory management and reduced discounting strategies. The transition to an affiliate model within the BODI segment is expected to unlock substantial cost savings, potentially resulting in positive EBITDA and free cash flow, while also allowing for increased investments in marketing and pricing strategies. Furthermore, the company's 3Q results revealed revenue and EBITDA figures of $102.2 million and $10.1 million, respectively, indicating that operational efficiency and strategic financial maneuvers could lead to a favorable valuation in the near future.

Bear case

Beachbody Co Inc. has reported revenues significantly below expectations, reflecting a pronounced sequential decline and ongoing challenges faced by at-home fitness companies, casting doubt on the timing of any potential recovery. The company's fourth-quarter guidance indicates a further revenue drop of approximately $20 million, contributing to lowered revenue estimates for fiscal years 2024 and 2025, driven by declines in both operating segments and uncertainty surrounding growth initiatives. Additionally, subscriber growth remains negative on a year-over-year and sequential basis, highlighting persistent weakness in the digital fitness market, which has not stabilized since the COVID-19 pandemic.

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