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Jefferies Keeps Their Buy Rating on Olaplex Holdings (OLPX)

Jefferies analyst Stephanie Wissink maintained a Buy rating on Olaplex Holdings (OLPXResearch Report) yesterday and set a price target of $20.00. The company’s shares closed last Friday at $15.59.

According to TipRanks.com, Wissink is a 1-star analyst with an average return of -0.5% and a 44.4% success rate. Wissink covers the Consumer Goods sector, focusing on stocks such as Petco Health and Wellness Company, Bj’s Wholesale Club Holdings, and The Estée Lauder Companies.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Olaplex Holdings with a $24.63 average price target, implying a 64.3% upside from current levels. In a report issued on June 16, Piper Sandler also maintained a Buy rating on the stock with a $24.00 price target.

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Based on Olaplex Holdings’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $186 million and net profit of $61.96 million. In comparison, last year the company earned revenue of $118 million and had a net profit of $45.53 million.

Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OLPX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Olaplex Holdings Inc is a science-enabled, technology-driven beauty company. It offers science-backed solutions that improve hair health. It identifies consumers’ most relevant haircare concerns in collaboration with the community of professional hairstylists and consumers and strives to address them through its proprietary technology and innovation capabilities. It offers products through a global omnichannel platform serving the professional, specialty retail, and DTC channels. The company derives its revenue through the sale of its specialty hair care products.

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