BODY - Beachbody Company slides further as analysts pull bull ratings

Guggenheim lowers its rating on Beachbody Company (NYSE:BODY) to Neutral from Buy after taking in the earnings report. Analyst John Heinbockel and team continues to believe in the long-term growth potential of BODY's platform, but warn on a more challenging near-term backdrop that is likely to weigh on performance. The recommendation to investors is to wait for greater visibility on BODY's eventual return to profitable growth with the unclear visibility on demand for at-home fitness services and product delay issues. Baird also lowered its rating on BODY to Neutral and assigned a price target of $4. Shares of Beachbody Company (BODY) are down 25.54% premarket to $3.44 following the earnings misfire.

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Beachbody Company slides further as analysts pull bull ratings