OLPX - Analyst Upgrade And Fresh Price Target Sent This Stock Soaring

2024-03-19 15:43:51 ET

A California-based %RetailTech company is turning heads on Tuesday after it was upgraded by Piper Sandler from an underweight rating to neutral. This upgrade also came with a fresh price target set at $2.00/share.

Seeing that %OlaplexHoldings (NASDAQ: ) closed yesterday at just $1.705/share, it’s no wonder traders got excited during Tuesday’s session. Shares climbed up to $1.85/share (+8.50%) at the session high.

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.