e.l.f. Beauty (NYSE:ELF) Given New $139.00 Price Target at Citigroup

Key Points

• Citigroup raised its price target on e.l.f. Beauty from $130 to $139 and maintained a “buy” rating, implying 26.19% upside from the prior close.
• The company reported quarterly EPS of $1.21 versus $0.60 expected and revenue of $520.8 million versus $473.5 million expected; sales rose 51.4% year over year.
• Analyst sentiment was generally positive, with a MarketBeat consensus “Moderate Buy” rating and an average price target of $116.38. Shares fell 3.1% on Thursday to $110.15.

e.l.f. Beauty (NYSE:ELF - Get Free Report) had its target price raised by equities researchers at Citigroup from $130.00 to $139.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's target price would indicate a potential upside of 26.19% from the company's previous close.

Several other equities research analysts also recently weighed in on ELF. UBS Group reaffirmed a "neutral" rating and issued a $116.00 target price on shares of e.l.f. Beauty in a research report on Thursday, October 15th. Piper Sandler raised their target price on e.l.f. Beauty from $100.00 to $110.00 and gave the company a "neutral" rating in a report on Thursday. Canaccord Genuity Group raised their target price on e.l.f. Beauty from $123.00 to $137.00 and gave the company a "buy" rating in a report on Thursday, October 22nd. Zacks Research raised e.l.f. Beauty from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of e.l.f. Beauty from $106.00 to $130.00 and gave the company an "overweight" rating in a research report on Monday, October 19th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $116.38.

e.l.f. Beauty Trading Down 3.1%

Shares of e.l.f. Beauty stock traded down $3.48 during trading hours on Thursday, hitting $110.15. The company's stock had a trading volume of 2,971,922 shares, compared to its average volume of 2,463,365. e.l.f. Beauty has a 1-year low of $48.82 and a 1-year high of $123.13. The business has a fifty day moving average of $106.01 and a 200 day moving average of $81.94. The company has a market capitalization of $6.50 billion, a PE ratio of 110.15, a P/E/G ratio of 2.93 and a beta of 1.61. The company has a quick ratio of 1.82, a current ratio of 2.55 and a debt-to-equity ratio of 0.69.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.61. e.l.f. Beauty had a net margin of 3.38% and a return on equity of 14.07%. The business had revenue of $520.82 million for the quarter, compared to analyst estimates of $473.51 million. During the same quarter in the previous year, the business posted $0.68 EPS. The business's quarterly revenue was up 51.4% on a year-over-year basis. As a group, equities analysts forecast that e.l.f. Beauty will post 2.69 EPS for the current year.

Insiders Place Their Bets

In other e.l.f. Beauty news, SVP Joshua Franks sold 7,926 shares of the firm's stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $110.15, for a total transaction of $873,048.90. Following the completion of the transaction, the senior vice president directly owned 119,005 shares of the company's stock, valued at $13,108,400.75. This trade represents a 6.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tarang Amin sold 47,000 shares of the business's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $103.31, for a total transaction of $4,855,570.00. Following the completion of the sale, the chief executive officer directly owned 134,496 shares of the company's stock, valued at $13,894,781.76. The trade was a 25.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 91,821 shares of company stock valued at $9,624,513 over the last 90 days. 3.50% of the stock is owned by company insiders.

Institutional Trading of e.l.f. Beauty

Several hedge funds and other institutional investors have recently bought and sold shares of ELF. Legal & General Group Plc acquired a new stake in shares of e.l.f. Beauty in the second quarter worth $5,684,000. Delta Global Management LP purchased a new position in shares of e.l.f. Beauty during the first quarter valued at $1,227,000. State Street Corp raised its position in e.l.f. Beauty by 4.2% during the second quarter. State Street Corp now owns 1,874,997 shares of the company's stock valued at $138,647,000 after buying an additional 75,842 shares during the period. Aurora Investment Counsel acquired a new position in e.l.f. Beauty during the second quarter valued at $2,868,000. Finally, SummitTX Capital L.P. raised its position in e.l.f. Beauty by 222.3% during the first quarter. SummitTX Capital L.P. now owns 29,240 shares of the company's stock valued at $1,772,000 after buying an additional 20,169 shares during the period. 92.44% of the stock is owned by institutional investors.

Trending Headlines about e.l.f. Beauty

Here are the key news stories impacting e.l.f. Beauty this week:

• Positive Sentiment: Fiscal Q2 net sales rose 51.4% year over year to $520.8 million, ahead of estimates of about $473.5 million. Adjusted earnings were $1.21 per share, well above consensus near $0.60 and up from $0.68 a year earlier. Read More.
• Positive Sentiment: The company raised its full-year net sales growth guidance to 22%–24%, citing momentum across its portfolio. It also marked its 31st consecutive quarter of net-sales growth, supporting the case for continued demand. Read More.
• Negative Sentiment: Piper Sandler raised its price target from $100 to $110 but kept a “neutral” rating; the new target was still below the then-current share price. That cautious view may temper the market reaction to the earnings beat. Read More.

About e.l.f. Beauty

e.l.f. Beauty, Inc is a cosmetics and skincare company that develops, markets and sells beauty products under a portfolio of brands. Its offerings include makeup, skin care, hair care and other personal-care products designed to provide accessible, trend-focused beauty options across a range of categories.

The company's portfolio includes e.l.f. Cosmetics, Well People, Keys Soulcare and Naturium. Its products are sold through mass retailers, specialty beauty stores, e-commerce platforms and the brands' direct-to-consumer websites.

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