JPMorgan Chase & Co. Forecasts Strong Price Appreciation for e.l.f. Beauty (NYSE:ELF) Stock

e.l.f. Beauty (NYSE:ELF - Get Free Report) had its price objective boosted by JPMorgan Chase & Co. from $70.00 to $123.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 9.23% from the stock's previous close.

ELF has been the topic of several other research reports. Piper Sandler reiterated an "overweight" rating and issued a $109.00 price target (up previously from $81.00) on shares of e.l.f. Beauty in a research note on Thursday. Robert W. Baird boosted their target price on e.l.f. Beauty from $85.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Bank of America upped their price objective on e.l.f. Beauty from $80.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Morgan Stanley upped their price objective on e.l.f. Beauty from $70.00 to $105.00 and gave the stock an "equal weight" rating in a report on Thursday. Finally, Truist Financial decreased their price target on shares of e.l.f. Beauty from $100.00 to $75.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $117.76.

e.l.f. Beauty Price Performance

NYSE ELF traded up $0.77 during trading hours on Friday, reaching $112.61. The company's stock had a trading volume of 5,858,897 shares, compared to its average volume of 2,501,977. e.l.f. Beauty has a 1 year low of $49.40 and a 1 year high of $219.77. The firm's 50-day moving average price is $67.23 and its 200-day moving average price is $91.66. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $6.35 billion, a price-to-earnings ratio of 66.63, a PEG ratio of 6.76 and a beta of 1.31.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its earnings results on Wednesday, May 28th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. The firm had revenue of $332.65 million for the quarter, compared to the consensus estimate of $327.45 million. e.l.f. Beauty had a net margin of 7.55% and a return on equity of 16.88%. The company's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. On average, equities research analysts predict that e.l.f. Beauty will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Joshua Allen Franks sold 51,353 shares of the firm's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $53.36, for a total value of $2,740,196.08. Following the transaction, the senior vice president now owns 114,660 shares of the company's stock, valued at $6,118,257.60. This trade represents a 30.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Tarang Amin sold 97,915 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $53.36, for a total transaction of $5,224,744.40. Following the completion of the transaction, the chief executive officer now directly owns 181,289 shares in the company, valued at $9,673,581.04. This represents a 35.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 223,001 shares of company stock valued at $12,996,483 in the last ninety days. 3.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Truist Financial Corp increased its position in shares of e.l.f. Beauty by 1.3% during the fourth quarter. Truist Financial Corp now owns 7,885 shares of the company's stock worth $990,000 after acquiring an additional 102 shares during the period. Arizona State Retirement System increased its holdings in e.l.f. Beauty by 0.8% during the 4th quarter. Arizona State Retirement System now owns 16,365 shares of the company's stock worth $2,055,000 after purchasing an additional 128 shares during the period. Treasurer of the State of North Carolina increased its holdings in e.l.f. Beauty by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 23,630 shares of the company's stock worth $2,967,000 after purchasing an additional 140 shares during the period. Atria Wealth Solutions Inc. increased its stake in shares of e.l.f. Beauty by 7.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 2,089 shares of the company's stock valued at $262,000 after buying an additional 150 shares during the period. Finally, Horizon Investments LLC increased its stake in shares of e.l.f. Beauty by 29.0% during the fourth quarter. Horizon Investments LLC now owns 742 shares of the company's stock valued at $93,000 after buying an additional 167 shares during the period. Hedge funds and other 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.