These Analysts Increase Their Forecasts On Beauty Health Following Strong Sales
Portfolio Pulse from Avi Kapoor
The Beauty Health Company (NASDAQ:SKIN) reported Q4 revenue of $96.80 million, surpassing expectations of $87.63 million, but posted a quarterly loss of 7 cents per share, in line with market estimates. Gross margin decreased to 47.2% from 67.8% year-over-year. CEO Marla Beck highlighted the company's operational reset and the untapped global opportunity for BeautyHealth. The company forecasts Q1 revenue between $77 million and $83 million, below analysts' expectations of $85.53 million. Following this, Piper Sandler and Stifel adjusted their price targets for SKIN, with shares jumping 20.1% in pre-market trading.
March 13, 2024 | 12:59 pm
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The Beauty Health Company exceeded Q4 revenue expectations and provided a Q1 revenue forecast below analyst estimates. Shares surged 20.1% in pre-market trading following the announcement.
The positive reaction in pre-market trading indicates investor optimism, despite the mixed financial results and the lower-than-expected Q1 revenue forecast. The significant pre-market stock price movement suggests a short-term positive impact, driven by the better-than-expected Q4 revenue.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100