Mizuho Lowers Price Target on Evolus, Inc. (EOLS) to $15, Maintains Outperform Rating

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On February 4, Mizuho analyst Uy Ear lowered the firm’s price target on Evolus, Inc. (NASDAQ:EOLS) to $15 from $19 while maintaining an Outperform rating, reflecting updated expectations following a softer-than-anticipated preannounced fourth quarter. Despite the near-term adjustment, the continued Outperform stance signals confidence in Evolus’ longer-term growth trajectory and the durability of its competitive positioning within the medical aesthetics market.

Operationally, Evolus, Inc. (NASDAQ:EOLS) continues to demonstrate solid underlying momentum. During its third-quarter 2025 earnings call, the company reported revenue of $69 million, representing 13% year-over-year growth, driven by sustained global demand for Jeuveau and theU.S. launch of Evolysse. These two products anchor Evolus’ expanding portfolio and highlight the company’s ability to execute across both established and newly introduced offerings, supporting revenue diversification and market penetration.

Evolus operates as a performance beauty company focused on injectable aesthetic treatments in the cash-pay market. By building a portfolio of differentiated, physician-led brands and expanding its international footprint, the company is positioning itself for continued share gains over time. Headquartered in Newport Beach, California, and founded in 2012, Evolus, Inc. (NASDAQ:EOLS) appears well placed to translate its growing product portfolio and global demand trends into sustained top-line growth as short-term volatility normalizes.

While we acknowledge the potential of EOLS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than EOLS and that has a 100x upside potential, check out our report about the cheapest AI stock.

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