Shares of online software retailer Beyond.com (Nasdaq: BYND) fell 1 point to a 52-week closing low of 6-17/32 on Thursday, one day after the company announced that fourth-quarter revenue would be well below expectations. Beyond.com says fourth-quarter revenue will be $34 million to $35 million. This figure is a gain of 167 percent from the fourth quarter of 1998, but analysts had been expecting revenue of about $50 million.
On Thursday, both Wit Capital and Donaldson, Lufkin and Jenrette downgraded Beyond.com. This stock has really struggled in recent months and is now well off its 52-week high of 41-15/16. With a current market valuation of around $237 million, Beyond.com is looking like a potential cheap takeover target.