These Analysts Slash Their Forecasts On European Wax Center After Q1 Results
Portfolio Pulse from Avi Kapoor
European Wax Center, Inc (NASDAQ:EWCZ) reported a profitable Q1 with net income of $3.7 million, up from a loss of $1.1 million last year. Revenue rose 4% to $51.9 million. Despite positive results, analysts from B of A Securities, Truist Securities, and Telsey Advisory Group lowered their price targets to $16 while maintaining positive ratings.
May 16, 2024 | 12:48 pm
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European Wax Center reported a profitable Q1 with net income of $3.7 million and a 4% increase in revenue. Despite positive results, analysts from B of A Securities, Truist Securities, and Telsey Advisory Group lowered their price targets to $16 while maintaining positive ratings.
The company's positive earnings report is offset by analysts lowering their price targets, indicating mixed sentiment. The maintained positive ratings suggest confidence in the company's long-term prospects, but the lowered targets may limit short-term price gains.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100