Waldencast plc (NASDAQ:WALD) is a skincare company that offers advanced treatments to address skin aging, damage, hyperpigmentation, acne, and sun damage. Founded in 1988 and based in White Plains, New York, Waldencast distributes its products through dermatologists, plastic surgeons, and medical spas. The company’s portfolio includes Obagi Medical and Obagi Clinical, which focus on enhancing skin tone and texture.
The consensus price target for Waldencast has remained stable at $5 over the past month and quarter, indicating a consistent short-term outlook from analysts. However, this is a decline from the $6 target a year ago, suggesting a more cautious view. This could be due to changes in market conditions or company performance.
Despite the stable short-term target, Waldencast’s recent financial performance has been strong. In Q4 2024, the company reported a net revenue of $72.1 million, a 29.4% growth, and an adjusted EBITDA of $11.2 million, doubling from Q4 2023. This impressive performance has led D.A. Davidson to set a higher price target of $15.50 for the stock. Waldencast’s Q3 2024 results also showed significant growth, with net revenue of $70.2 million, a 34.6% increase. Obagi Medical and Milk Makeup brands contributed to this growth, with revenue increases of 45.5% and 23.5%, respectively.
The adjusted EBITDA for Q3 was $11.4 million, a 134% increase from the previous year. In Q2 2024, Waldencast reported a net revenue of $63.3 million, a 25.7% increase. The company’s brands, Obagi Medical and Milk Makeup, saw revenue growth of 30.9% and 20.0%, respectively. The adjusted EBITDA rose by 64.5% to $6.3 million. These strong financial results have contributed to the positive outlook and higher price target set by D.A. Davidson.