Stifel Nicolaus Issues Positive Forecast for Beauty Health (NASDAQ:SKIN) Stock Price

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 - Get Free Report) had its price target lifted by investment analysts at Stifel Nicolaus from $3.00 to $4.00 in a report issued on Friday,Benzinga reports. The firm presently has a "hold" rating on the stock. Stifel Nicolaus' target price would indicate a potential upside of 169.36% from the company's previous close.

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

Beauty Health Stock Performance

Shares of NASDAQ SKIN traded down $0.06 during trading on Friday, reaching $1.49. The stock had a trading volume of 143,561 shares, compared to its average volume of 763,337. Beauty Health has a one year low of $0.78 and a one year high of $2.38. The company has a debt-to-equity ratio of 12.01, a quick ratio of 6.43 and a current ratio of 7.47. The stock has a market cap of $187.10 million, a PE ratio of -3.65 and a beta of 1.22. The firm's 50 day moving average price is $1.77 and its two-hundred day moving average price is $1.52.

Beauty Health (NASDAQ:SKIN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.05. Beauty Health had a negative return on equity of 67.91% and a negative net margin of 11.94%. The firm had revenue of $69.60 million during the quarter, compared to the consensus estimate of $63.88 million. 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

Large investors have recently made changes to their positions in the company. Grimes & Company Inc. grew its position in Beauty Health by 85.2% during the second quarter. Grimes & Company Inc. now owns 406,987 shares of the company's stock worth $777,000 after buying an additional 187,226 shares in the last quarter. Simplicity Wealth LLC bought a new position in shares of Beauty Health in the second quarter valued at approximately $49,000. Newman Dignan & Sheerar Inc. increased its stake in shares of Beauty Health by 28.1% in the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 91,144 shares of the company's stock worth $174,000 after purchasing an additional 20,000 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in Beauty Health in the second quarter worth about $60,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Beauty Health by 5.0% during the first quarter. Goldman Sachs Group Inc. now owns 665,706 shares of the company's stock valued at $892,000 after acquiring an additional 31,880 shares in the last quarter. Institutional investors own 93.26% of the company's stock.

Beauty Health Company Profile

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.

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