Olaplex (NASDAQ:OLPX) Announces Quarterly Earnings Results, Meets Expectations

Olaplex (NASDAQ:OLPX) announced its quarterly earnings results on Thursday. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03, Briefing.com reports. The business had revenue of $98.90 million for the quarter, compared to analysts’ expectations of $95.15 million. Olaplex had a return on equity of 13.09% and a net margin of 13.44%. The business’s quarterly revenue was down 13.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 EPS.

Olaplex Trading Down 1.8 %

Shares of NASDAQ:OLPX traded down $0.03 on Friday, hitting $1.61. The company had a trading volume of 1,534,229 shares, compared to its average volume of 2,067,517. The firm’s 50-day simple moving average is $1.68 and its two-hundred day simple moving average is $1.96. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 18.22 and a beta of 2.34. The company has a quick ratio of 9.21, a current ratio of 10.92 and a debt-to-equity ratio of 0.77. Olaplex has a 1 year low of $1.19 and a 1 year high of $4.27.

Analyst Upgrades and Downgrades

Several brokerages recently commented on OLPX. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $2.00 target price on shares of Olaplex in a research note on Thursday. Piper Sandler upgraded shares of Olaplex from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $1.25 to $2.00 in a research report on Tuesday, March 19th. Finally, Truist Financial dropped their target price on shares of Olaplex from $7.00 to $3.00 and set a “buy” rating for the company in a report on Monday, March 4th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.59.

About Olaplex

Olaplex Holdings, Inc develops, manufactures, and sells hair care products in the United States and internationally. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair, as well as oil, moisture mask, and nourishing hair serum. It provides hair care products to professional hair salons, retailers, and everyday consumers.