e.l.f. Beauty (NYSE:ELF) Stock Gets Price Target Bump from Robert W. Baird

Key Points

• Robert W. Baird raised e.l.f. Beauty’s price target from $105 to $120 and maintained an “outperform” rating, implying 16.75% potential upside.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $99.94; other firms set targets ranging from $64 to $127.
• e.l.f. Beauty reported quarterly results above expectations, including $1.75 in EPS versus $0.71 forecast and 35.5% year-over-year revenue growth, while the stock opened at $102.79.

e.l.f. Beauty (NYSE:ELF - Get Free Report) had its price objective boosted by analysts at Robert W. Baird from $105.00 to $120.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's price objective suggests a potential upside of 16.75% from the stock's current price.

Several other research firms have also weighed in on ELF. Sanford C. Bernstein upped their price target on e.l.f. Beauty from $121.00 to $127.00 and gave the company an "outperform" rating in a research report on Thursday, September 17th. The Goldman Sachs Group set a $100.00 price objective on e.l.f. Beauty in a research report on Thursday, August 6th. Piper Sandler lifted their target price on e.l.f. Beauty from $50.00 to $65.00 and gave the company a "neutral" rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $64.00 target price on shares of e.l.f. Beauty in a report on Tuesday, June 16th. Finally, Canaccord Genuity Group increased their price target on shares of e.l.f. Beauty from $110.00 to $123.00 and gave the stock a "buy" rating in a research report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, e.l.f. Beauty currently has a consensus rating of "Moderate Buy" and a consensus target price of $99.94.

e.l.f. Beauty Stock Down 0.9%

Shares of NYSE:ELF opened at $102.79 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.82 and a current ratio of 2.55. The company has a market cap of $6.07 billion, a PE ratio of 102.79, a price-to-earnings-growth ratio of 2.93 and a beta of 1.61. e.l.f. Beauty has a 52 week low of $48.82 and a 52 week high of $147.75. The firm has a 50 day simple moving average of $98.40 and a 200 day simple moving average of $76.64.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $0.71 by $1.04. e.l.f. Beauty had a net margin of 3.38% and a return on equity of 14.07%. The firm had revenue of $479.37 million for the quarter, compared to analysts' expectations of $431.20 million. During the same period in the previous year, the company posted $0.89 EPS. The company's quarterly revenue was up 35.5% compared to the same quarter last year. e.l.f. Beauty has set its FY 2027 guidance at 3.500-3.550 EPS. As a group, research analysts expect that e.l.f. Beauty will post 2.65 earnings per share for the current year.

Insider Buying and Selling at e.l.f. Beauty

In related news, insider Mandy J. Fields sold 16,065 shares of e.l.f. Beauty stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $104.52, for a total transaction of $1,679,113.80. Following the completion of the sale, the insider owned 90,896 shares of the company's stock, valued at approximately $9,500,449.92. This trade represents a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Levitan sold 1,034 shares of the business's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $93.15, for a total value of $96,317.10. Following the completion of the transaction, the director owned 10,516 shares in the company, valued at $979,565.40. This trade represents a 8.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 87,702 shares of company stock valued at $8,902,588 in the last quarter. Corporate insiders own 3.50% of the company's stock.

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

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of e.l.f. Beauty in the 2nd quarter valued at approximately $428,262,000. Primecap Management Co. CA bought a new stake in e.l.f. Beauty during the second quarter worth approximately $78,202,000. Prime Capital Management Co Ltd bought a new stake in e.l.f. Beauty during the second quarter worth approximately $44,736,000. Armistice Capital LLC grew its holdings in e.l.f. Beauty by 394.9% during the fourth quarter. Armistice Capital LLC now owns 657,983 shares of the company's stock valued at $50,033,000 after purchasing an additional 525,018 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in e.l.f. Beauty during the second quarter valued at approximately $23,624,000. Institutional investors and hedge funds own 92.44% of the company's stock.

About e.l.f. Beauty

e.l.f. Beauty, Inc is a cosmetics and skin-care company that develops, markets and sells beauty products through mass retailers, specialty beauty stores, e-commerce platforms and its own websites. Its portfolio includes makeup, skin-care, body-care and related beauty products designed to offer accessible pricing and broad consumer appeal.

The company's principal brand is e.l.f. Cosmetics, which offers products such as complexion makeup, eye cosmetics, lip products, brushes and skin-care items.

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