Investing

Piper Sandler Downgrades Olaplex

George Maybach

Published: August 25, 2023 11:18 pm

Last Updated: August 28, 2023 11:22 am

Fintel reports that on August 25, 2023, Piper Sandler downgraded their outlook for Olaplex Holdings (NASDAQ:OLPX) from Neutral to Underweight.

Analyst Price Forecast Suggests 128.27% Upside

As of August 2, 2023, the average one-year price target for Olaplex Holdings is 5.96. The forecasts range from a low of 3.03 to a high of $15.75. The average price target represents an increase of 128.27% from its latest reported closing price of 2.61.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Olaplex Holdings is 748MM, an increase of 41.03%. The projected annual non-GAAP EPS is 0.41.

What is the Fund Sentiment?

There are 347 funds or institutions reporting positions in Olaplex Holdings. This is a decrease of 42 owner(s) or 10.80% in the last quarter. Average portfolio weight of all funds dedicated to OLPX is 0.08%, a decrease of 33.06%. Total shares owned by institutions decreased in the last three months by 0.27% to 612,657K shares. The put/call ratio of OLPX is 0.65, indicating a bullish outlook.

What are Other Shareholders Doing?

Advent International holds 499,469K shares representing 76.29% ownership of the company. No change in the last quarter.

Aqr Capital Management holds 5,331K shares representing 0.81% ownership of the company. In it’s prior filing, the firm reported owning 5,079K shares, representing an increase of 4.73%. The firm increased its portfolio allocation in OLPX by 23.74% over the last quarter.

Janus Henderson Group holds 4,246K shares representing 0.65% ownership of the company. In it’s prior filing, the firm reported owning 4,419K shares, representing a decrease of 4.09%. The firm decreased its portfolio allocation in OLPX by 22.05% over the last quarter.

Pacer Advisors holds 4,101K shares representing 0.63% ownership of the company. In it’s prior filing, the firm reported owning 3,502K shares, representing an increase of 14.60%. The firm decreased its portfolio allocation in OLPX by 3.87% over the last quarter.

FDGRX – Fidelity Growth Company Fund holds 3,816K shares representing 0.58% ownership of the company. In it’s prior filing, the firm reported owning 3,892K shares, representing a decrease of 2.01%. The firm decreased its portfolio allocation in OLPX by 44.01% over the last quarter.

Olaplex Holdings Background Information
(This description is provided by the company.)

OLAPLEX is an innovative, science-enabled, technology-driven beauty company with a mission to improve the hair health of its consumers. A revolutionary brand, OLAPLEX paved the way for a new category of hair care called “bond-building,” the process of protecting, strengthening and rebuilding broken bonds in the hair during and after hair services. The brand’s products have an active, patent-protected ingredient that works on a molecular level to protect and repair hair from damage. OLAPLEX’s award-winning products are sold through a global omni-channel platform serving the professional, specialty retail, and direct-to-consumer channels.

This article originally appeared on Fintel