Why The Beauty Health Company Stock Dropped Today
Shares of The Beauty Health Company (NASDAQ: SKIN), which specializes in facial treatments, dropped on Wednesday after an analyst downgraded his rating for the stock. As of 10:10 a.m. ET, Beauty Health stock was down 12% and had touched all-time lows.
Stifel (NYSE:SF) analyst Jonathan Block downgraded his rating for Beauty Health stock, according to Street Insider. Previously, Block called Beauty Health stock a buy. Now he rates it as a hold. But he maintained his price target of $10 per share, according to TipRanks.
He is reportedly concerned about slowing growth for the company. And to his point, the growth rate has dropped rapidly, as the chart below illustrates.
Source Fool.com
