e.l.f. Beauty (NYSE:ELF) Given New $97.00 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity raised its price target on e.l.f. Beauty from $90 to $97 and maintained a buy rating, implying about 31% upside from the current price.
• Other analysts were mixed: some firms lowered targets while others raised them, and the stock currently carries a Moderate Buy consensus with an average target of $81.31.
• e.l.f. Beauty recently beat quarterly expectations, posting $0.32 EPS and $449.29 million in revenue, while insiders also sold shares and institutional ownership remains high at 92.44%.

e.l.f. Beauty (NYSE:ELF - Get Free Report) had its price objective boosted by equities researchers at Canaccord Genuity Group from $90.00 to $97.00 in a research report issued to clients and investors on Friday. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's price target would suggest a potential upside of 31.17% from the stock's current price.

A number of other research firms have also weighed in on ELF. Morgan Stanley lowered their price objective on shares of e.l.f. Beauty from $67.00 to $59.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 21st. UBS Group raised their target price on shares of e.l.f. Beauty from $60.00 to $80.00 and gave the stock a "neutral" rating in a research note on Thursday. Evercore initiated coverage on shares of e.l.f. Beauty in a report on Thursday, April 2nd. They issued an "inline" rating and a $68.00 target price on the stock. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $64.00 price target on shares of e.l.f. Beauty in a research note on Tuesday, June 16th. Finally, B. Riley Financial cut their price target on shares of e.l.f. Beauty from $130.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $81.31.

e.l.f. Beauty Stock Performance

NYSE ELF traded down $0.54 during trading on Friday, reaching $73.95. The company's stock had a trading volume of 430,188 shares, compared to its average volume of 2,856,102. e.l.f. Beauty has a twelve month low of $48.82 and a twelve month high of $150.99. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 160.16, a P/E/G ratio of 2.89 and a beta of 1.59. The business's fifty day moving average price is $62.37 and its 200-day moving average price is $71.60. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, May 20th. The company reported $0.32 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $449.29 million for the quarter, compared to analysts' expectations of $423.06 million. During the same quarter in the previous year, the firm posted $0.78 EPS. The firm's revenue for the quarter 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. As a group, analysts anticipate that e.l.f. Beauty will post 2.42 EPS for the current fiscal year.

Insider Activity at e.l.f. Beauty

In other e.l.f. Beauty news, insider Mandy J. Fields sold 4,327 shares of the company's stock in a transaction dated Tuesday, June 9th. The shares were 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 $5,511,700.33. This represents a 3.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kory Marchisotto sold 4,352 shares of the business's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $51.53, for a total value of $224,258.56. Following the completion of the transaction, the insider directly owned 181,868 shares of the company's stock, valued at approximately $9,371,658.04. This trade represents a 2.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 278,988 shares of company stock worth $18,354,580. 3.50% of the stock is currently owned by company insiders.

Institutional Trading of e.l.f. Beauty

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its stake in e.l.f. Beauty by 9.9% in the first quarter. Royal Bank of Canada now owns 153,682 shares of the company's stock valued at $9,650,000 after purchasing an additional 13,851 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of e.l.f. Beauty by 168.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,483 shares of the company's stock valued at $407,000 after acquiring an additional 4,069 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of e.l.f. Beauty by 176.4% during the 1st quarter. NewEdge Advisors LLC now owns 4,677 shares of the company's stock worth $294,000 after buying an additional 2,985 shares during the last quarter. United Services Automobile Association acquired a new stake in e.l.f. Beauty during the first quarter worth about $240,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in e.l.f. Beauty by 58.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 317 shares of the company's stock worth $39,000 after purchasing an additional 117 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

e.l.f. Beauty Company Profile

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.

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