Brokerages Set e.l.f. Beauty (NYSE:ELF) Target Price at $124.24

e.l.f. Beauty (NYSE:ELF - Get Free Report) has earned an average rating of "Moderate Buy" from the seventeen analysts that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $118.88.

A number of research analysts recently issued reports on the company. Piper Sandler reiterated an "overweight" rating and set a $109.00 price objective (up from $81.00) on shares of e.l.f. Beauty in a report on Thursday, May 29th. JPMorgan Chase & Co. upped their price target on e.l.f. Beauty from $70.00 to $123.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. B. Riley reaffirmed a "buy" rating and set a $150.00 price target (up from $110.00) on shares of e.l.f. Beauty in a research note on Friday, June 13th. Raymond James Financial boosted their price objective on shares of e.l.f. Beauty from $95.00 to $105.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 29th. Finally, Canaccord Genuity Group set a $114.00 target price on shares of e.l.f. Beauty in a report on Thursday, May 29th.

e.l.f. Beauty Stock Down 1.8%

Shares of NYSE:ELF traded down $2.16 during midday trading on Wednesday, reaching $120.08. 2,448,282 shares of the company were exchanged, compared to its average volume of 2,561,129. e.l.f. Beauty has a fifty-two week low of $49.40 and a fifty-two week high of $219.77. The company has a quick ratio of 2.00, a current ratio of 3.05 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $85.92 and a two-hundred day simple moving average of $91.09. The firm has a market cap of $6.76 billion, a PE ratio of 62.22, a P/E/G ratio of 2.66 and a beta of 1.52.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its earnings results on Wednesday, May 28th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.06. e.l.f. Beauty had a return on equity of 17.98% and a net margin of 8.53%. The firm had revenue of $332.65 million during the quarter, compared to analysts' expectations of $327.45 million. During the same quarter in the prior year, the company earned $0.53 EPS. The company's revenue was up 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that e.l.f. Beauty will post 2.38 earnings per share for the current year.

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

In other news, CEO Tarang Amin sold 2,405 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $117.61, for a total value of $282,852.05. Following the completion of the sale, the chief executive officer now directly owns 186,586 shares of the company's stock, valued at $21,944,379.46. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jennifer Catherine Hartnett sold 18,383 shares of e.l.f. Beauty stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $109.99, for a total value of $2,021,946.17. Following the transaction, the insider now owns 54,163 shares of the company's stock, valued at $5,957,388.37. This represents a 25.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 327,207 shares of company stock worth $25,252,926 over the last quarter. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On e.l.f. Beauty

A number of large investors have recently added to or reduced their stakes in ELF. Principal Financial Group Inc. increased its holdings in shares of e.l.f. Beauty by 149.8% in the fourth quarter. Principal Financial Group Inc. now owns 328,557 shares of the company's stock valued at $41,250,000 after purchasing an additional 197,028 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in shares of e.l.f. Beauty by 441.0% during the 4th quarter. Global Retirement Partners LLC now owns 8,283 shares of the company's stock worth $1,040,000 after buying an additional 6,752 shares during the period. Mitchell Capital Management Co. acquired a new position in e.l.f. Beauty in the 4th quarter valued at about $2,655,000. Harbor Capital Advisors Inc. raised its holdings in e.l.f. Beauty by 42.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 103,235 shares of the company's stock valued at $6,482,000 after acquiring an additional 30,530 shares during the period. Finally, Granahan Investment Management LLC bought a new position in e.l.f. Beauty in the 4th quarter valued at about $9,671,000. Institutional investors own 92.44% of the company's stock.

About e.l.f. Beauty

e.l.f. Beauty, Inc is a holding company, which engages in the provision of inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. The company focuses on the e-commerce, national retailers and international business channels. Its brands include elf, elf skin, WELL People and KEYS soulcare.