These Analysts Increase Their Forecasts On Beauty Health Following Strong Sales

Author: Avi Kapoor | March 13, 2024 08:58am

The Beauty Health Company (NASDAQ:SKIN) reported better-than-expected fourth-quarter revenue results on Tuesday.

Beauty Health posted quarterly loss of 7 cents per share, in-line with market estimates. The company’s quarterly sales came in at $96.80 million versus expectations of $87.63 million, according to data from Benzinga Pro, according to data from Benzinga Pro.

Gross margin narrowed to 47.2% in the fourth quarter from 67.8% in the year-ago period. Adjusted gross margin shrank to 54.6% from 73.6%.

"To close 2023, we delivered fourth quarter financial results consistent with the expectations we outlined on our last earnings call," said BeautyHealth Chief Executive Officer Marla Beck. "While the results reflect a necessary operational reset, the underlying strength of our business remains—a clinically proven treatment, passionate provider community, unique partner portfolio, beloved consumer brand, and growing addressable market. I am confident in the still-untapped global opportunity for BeautyHealth."

Beauty Health Company said it sees first-quarter revenue of $77 million to $83 million, versus analysts’ estimates of $85.53 million.

Beauty Health shares jumped 20.1% to $4.3116 in pre-market trading.

These analysts made changes to their price targets on Beauty Health following merger news

• Piper Sandler raised the price target on Beauty Health from $2 to $3. Piper Sandler analyst Korinne Wolfmeyer maintained an Underweight rating.
• Stifel increased the price target on Beauty Health from $3 to $4. Stifel analyst Jonathan Block reiterated a Hold rating.

 

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Posted In: SKIN