01:49 PM EDT, 04/30/2024 (MT Newswires) -- Beyond (BYON), formerly Overstock, faces "significant shareholder value creation in the next several months" amid growth opportunities, Wedbush said Tuesday in a report.

Beyond "has recently taken several deliberate steps to grow its business," Wedbush said, adding the company to its best ideas list.

Beyond's transition to the established Bed Bath & Beyond brand, along with the reinstatement of its Overstock.com website in Q1 and the integration of the recently acquired Zulily into its brand portfolio by mid-year, signify promise, Wedbush said.

"We believe that Beyond's Executive Chairman, Marcus Lemonis, has a sound vision for improving the company," Wedbush said.

Wedbush expects "meaningful revenue improvements" starting in Q2 with the reinstatement of Overstock.com with more potential in H2 with the Zulily integration.

Beyond is set to report Q1 results on Monday

Wedbush maintained its outperform rating on Beyond with a price target of $43.

Beyond shares fell 1.3% in recent Tuesday trading.

Price: 20.40, Change: -0.26, Percent Change: -1.26