e.l.f. Beauty (NYSE:ELF) Price Target Raised to $97.00

e.l.f. Beauty (NYSE:ELF) had its target price boosted by analysts at Canaccord Genuity Group from $90.00 to $97.00 in a research note issued to investors on Friday. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 31.17% from the company’s previous close.

ELF has been the subject of a number of other reports. Piper Sandler reissued a “neutral” rating on shares of e.l.f. Beauty in a report on Friday, June 12th. Sanford C. Bernstein started coverage on shares of e.l.f. Beauty in a research note on Thursday, June 11th. They issued a “market perform” rating and a $60.00 target price on the stock. Morgan Stanley cut their price objective on e.l.f. Beauty from $67.00 to $59.00 and set an “equal weight” rating for the company in a report on Thursday, May 21st. Bank of America cut their target price on shares of e.l.f. Beauty from $93.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, May 21st. Finally, UBS Group increased their price objective on e.l.f. Beauty from $60.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, e.l.f. Beauty presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.31.

e.l.f. Beauty Stock Performance

Shares of NYSE ELF traded down $0.54 during trading on Friday, reaching $73.95. The stock had a trading volume of 430,188 shares, compared to its average volume of 2,856,102. The firm’s 50 day moving average price is $62.37 and its two-hundred day moving average price is $71.60. e.l.f. Beauty has a one year low of $48.82 and a one year high of $150.99. The stock has a market cap of $4.36 billion, a PE ratio of 160.16, a P/E/G ratio of 2.89 and a beta of 1.59. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.69 and a current ratio of 2.35.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings data on Wednesday, May 20th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. e.l.f. Beauty had a return on equity of 11.02% and a net margin of 1.61%.The business had revenue of $449.29 million during the quarter, compared to the consensus estimate of $423.06 million. During the same period in the previous year, the firm posted $0.78 earnings per share. The business’s revenue was up 35.1% on a year-over-year basis. e.l.f. Beauty has set its FY 2027 guidance at 3.270-3.320 EPS. On average, research analysts forecast that e.l.f. Beauty will post 2.42 earnings per share for the current fiscal year.

Insider Activity

In other e.l.f. Beauty news, CEO Tarang Amin sold 50,164 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $78.24, for a total value of $3,924,831.36. Following the transaction, the chief executive officer directly owned 110,496 shares in the company, valued at $8,645,207.04. The trade was a 31.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mandy J. Fields sold 4,327 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $51.53, for a total value of $222,970.31. Following the sale, the insider owned 106,961 shares of the company’s stock, valued at approximately $5,511,700.33. This represents a 3.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 278,988 shares of company stock valued at $18,354,580. 3.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On e.l.f. Beauty

A number of hedge funds have recently added to or reduced their stakes in ELF. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of e.l.f. Beauty in the 4th quarter valued at approximately $26,000. Hilton Head Capital Partners LLC acquired a new stake in shares of e.l.f. Beauty during the 4th quarter worth approximately $32,000. EverSource Wealth Advisors LLC increased its stake in e.l.f. Beauty by 97.0% in the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the company’s stock valued at $32,000 after acquiring an additional 128 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in e.l.f. Beauty by 58.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 317 shares of the company’s stock valued at $39,000 after acquiring an additional 117 shares during the last quarter. Finally, Arax Advisory Partners acquired a new position in e.l.f. Beauty during the fourth quarter valued at approximately $41,000. Institutional investors own 92.44% of the company’s stock.

About e.l.f. Beauty

e.l.f. Beauty (NYSE: ELF) is an American cosmetics company known for offering an extensive range of affordable, trend-driven makeup and skincare products. The company’s portfolio spans foundations, lipsticks, mascaras, brushes, serums, masks and other beauty essentials, all positioned at accessible price points. e.l.f. Beauty maintains a direct-to-consumer platform through its e-commerce site and engages in widespread retail partnerships with major chains such as Target, Walmart, Ulta Beauty and Amazon.

Founded in 2004 and headquartered in Oakland, California, e.l.f.