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Piper Sandler analyst Clarke Jeffries launched a hedge on Perfect company (NYSE: PERF) with a neutral rating and a price target of $7.
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A brand position in the development of AR Beauty technology with 85% of the most important beauty groups, as indicated by customers, Perfect is well aligned to take advantage of a potential market opportunity of more than 10 billion dollars.
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Perfect has demonstrated an impressive mind-share in the industry with 85% of the top 20 beauty groups as customers and has attracted notable strategic investors like Snap inc. (NYSE: SNAP) and Alibaba Group Holding Limited (NYSE: BABA).
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However, last week’s results indicated macro pressures are weighing on the company’s ability to land and grow with beauty and fashion brands.
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He estimates that CY23E’s revenue growth could be moderate in the mid-teens from >35% last year due to macro.
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Headwinds could weigh on PERF’s trajectory on a larger scale, but it has also seen a healthy business with around $200 million in cash on hand and only modest operating losses this year.
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Price Action: PERF shares traded up 9.35% to $6.32 when last checked on Tuesday.
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