Analysts have assigned an average price target of $4.67 for shares of Waldencast PLC (NASDAQ: WALD), reflecting a consensus rating of “Moderate Buy” from six financial analysts covering the stock, according to data from Marketbeat. Among these analysts, one has issued a sell rating, one has given a hold rating, and four have recommended buying the stock.
The varied opinions on Waldencast illustrate the mixed sentiment surrounding the company. Weiss Ratings reiterated a “sell (e+)” rating on October 8, 2023, while Jefferies Financial Group maintained its “buy” rating and set a price target of $3.50 in its report dated November 25, 2023. The same day, Canaccord Genuity Group adjusted its target price from $5.00 to $4.00, still classifying the stock as a buy. In contrast, the Telsey Advisory Group downgraded Waldencast from “outperform” to “market perform” with a revised target price of $3.00.
Waldencast’s stock opened at $1.88 on November 24, 2023, and has experienced fluctuations over the past year, with a low of $1.48 and a high of $4.10. The company currently has a 50-day simple moving average of $2.07 and a 200-day moving average of $2.05. Financial metrics indicate a quick ratio of 0.67, a current ratio of 1.53, and a debt-to-equity ratio of 0.32.
In its most recent quarterly earnings report, published on November 24, 2023, Waldencast reported an earnings per share (EPS) of ($0.69) and revenue of $66.14 million. Analysts anticipate that Waldencast will post an EPS of (0.14) for the current fiscal year.
Company Overview and Market Position
Waldencast PLC operates in the beauty and wellness sector, focusing on the development, acquisition, acceleration, and scaling of various brands. Its portfolio includes cosmetic, over-the-counter, and prescription products marketed under the Obagi Medical, Obagi Clinical, and Obagi Professional brands. Additionally, the company offers the Skintrinsiq device used in facial treatments by physicians, spas, and aestheticians, alongside clean makeup products under the Milk Makeup brand.
Waldencast’s products are primarily sold through dermatologists, plastic surgeons, and other medical professionals who specialize in aesthetic and therapeutic skincare. The company utilizes a direct sales force as well as distribution partners to reach its target market.
The diverse ratings and financial outlook from analysts indicate a complex landscape for Waldencast as it navigates the competitive beauty and wellness industry. The company’s performance and strategic decisions in the coming months will be crucial in shaping investor sentiment and stock value.
