Olaplex (NASDAQ:OLPX) Stock Price Down 9.4% After Earnings Miss

Key Points

• Olaplex Holdings, Inc. shares fell 9.4% after reporting earnings that missed expectations, with a quarterly EPS of ($0.01) against analysts' estimates of $0.01.
• The company generated $106.28 million in revenue, surpassing the expected $100.30 million, indicating a 2.3% year-over-year revenue growth.
• Despite the earnings miss, several Wall Street analysts have a mixed outlook, with price targets ranging from $1.40 to $2.00, signaling potential for future growth.

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report) shares traded down 9.4% on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $1.29 and last traded at $1.30. 681,112 shares were traded during trading, a decline of 50% from the average session volume of 1,373,015 shares. The stock had previously closed at $1.43.

The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.02). Olaplex had a return on equity of 6.36% and a net margin of 2.91%. The company had revenue of $106.28 million for the quarter, compared to analysts' expectations of $100.30 million. During the same period in the prior year, the firm posted $0.03 EPS. The firm's quarterly revenue was up 2.3% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Telsey Advisory Group reaffirmed a "market perform" rating and set a $2.00 price objective on shares of Olaplex in a report on Thursday. Wall Street Zen raised Olaplex from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Barclays upped their price objective on shares of Olaplex from $1.40 to $1.50 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th.

Hedge Funds Weigh In On Olaplex

Large investors have recently modified their holdings of the company. Teacher Retirement System of Texas purchased a new position in Olaplex in the first quarter valued at approximately $25,000. R Squared Ltd acquired a new stake in shares of Olaplex in the second quarter worth $25,000. Hsbc Holdings PLC acquired a new position in shares of Olaplex during the 4th quarter valued at $34,000. BNP Paribas Financial Markets acquired a new position in shares of Olaplex during the 4th quarter valued at $35,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Olaplex during the 4th quarter worth $43,000. 87.37% of the stock is currently owned by hedge funds and other institutional investors.

Olaplex Trading Down 8.0%

The firm has a fifty day moving average of $1.43 and a 200-day moving average of $1.38. The stock has a market capitalization of $875.47 million, a price-to-earnings ratio of 66.28 and a beta of 2.33. The company has a debt-to-equity ratio of 0.73, a quick ratio of 9.53 and a current ratio of 10.74.

About Olaplex

Olaplex Holdings, Inc develops, manufactures, and sells hair care products in the United States and internationally. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair, as well as oil, moisture mask, and nourishing hair serum. It provides hair care products to professional hair salons, retailers, and everyday consumers.

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