Stifel Nicolaus Forecasts Strong Price Appreciation for Beauty Health (NASDAQ:SKIN) Stock

Key Points

• Stifel Nicolaus raised its price target for Beauty Health stock from $3.00 to $4.00, suggesting a potential upside of 169.36% from the previous close.
• Despite the optimistic outlook from Stifel Nicolaus, Canaccord Genuity lowered its price target for the stock from $1.50 to $1.25, maintaining a "hold" rating.
• Beauty Health reported an earnings per share of (0.08), surpassing analysts' expectations, and had a revenue of $69.60 million for the quarter.

Beauty Health (NASDAQ:SKIN - Free Report) had its price target upped by Stifel Nicolaus from $3.00 to $4.00 in a research note published on Friday,Benzinga reports. They currently have a hold rating on the stock.

Separately, Canaccord Genuity Group lowered their price objective on shares of Beauty Health from $1.50 to $1.25 and set a "hold" rating on the stock in a research report on Monday, May 5th.

Beauty Health Stock Performance

Shares of NASDAQ SKIN traded up $0.05 during midday trading on Friday, reaching $1.65. 264,849 shares of the company were exchanged, compared to its average volume of 759,737. The stock has a market cap of $207.88 million, a P/E ratio of -4.02 and a beta of 1.20. Beauty Health has a 1 year low of $0.78 and a 1 year high of $2.38. The stock has a fifty day simple moving average of $1.77 and a 200 day simple moving average of $1.52. The company has a current ratio of 7.47, a quick ratio of 6.43 and a debt-to-equity ratio of 12.01.

Beauty Health (NASDAQ:SKIN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.08) earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.05. The company had revenue of $69.60 million during the quarter, compared to analysts' expectations of $63.88 million. Beauty Health had a negative return on equity of 67.91% and a negative net margin of 11.94%. On average, research analysts forecast that Beauty Health will post -0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Beauty Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC lifted its holdings in shares of Beauty Health by 30.6% in the 4th quarter. Millennium Management LLC now owns 3,118,970 shares of the company's stock valued at $4,959,000 after buying an additional 730,647 shares during the period. Prescott Group Capital Management L.L.C. lifted its holdings in Beauty Health by 47.0% in the first quarter. Prescott Group Capital Management L.L.C. now owns 646,798 shares of the company's stock valued at $867,000 after acquiring an additional 206,798 shares during the period. Bridgeway Capital Management LLC boosted its holdings in Beauty Health by 13.6% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,211,600 shares of the company's stock worth $1,926,000 after buying an additional 145,000 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Beauty Health in the 4th quarter worth approximately $129,000. Finally, Renaissance Technologies LLC acquired a new stake in Beauty Health in the fourth quarter valued at $64,000. Institutional investors and hedge funds own 93.26% of the company's stock.

About Beauty Health

The Beauty Health Company designs, develops, manufactures, markets, and sells aesthetic technologies and products worldwide. The company's flagship product includes HydraFacial that enhance the skin to cleanse, extract, and hydrate the skin with proprietary solutions and serums. Its products also comprise Syndeo, a Delivery System designs to connects providers to the consumer's preferences to create a more personalized experience; consumables, such as single-use tips, solutions, and serums used to provide a hydrafacial treatment; SkinStylus SteriLock Microsystem, a microneedling device used for the treatment of enhancing appearance of surgical or traumatic hypertrophic scars on the abdomen and facial acne scarring in Fitzpatrick skin types I, II, and III; and Keravive, a treatment for scalp health.