e.l.f. Beauty (NYSE:ELF) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

e.l.f. Beauty (NYSE:ELF - Free Report) had its price objective raised by Canaccord Genuity Group from $114.00 to $150.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. UBS Group increased their price target on e.l.f. Beauty from $59.00 to $84.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 21st. Truist Financial upped their price objective on e.l.f. Beauty from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Piper Sandler reissued an "overweight" rating and set a $109.00 target price (up previously from $81.00) on shares of e.l.f. Beauty in a research note on Thursday, May 29th. Morgan Stanley upped their price target on e.l.f. Beauty from $70.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. Finally, DA Davidson reduced their price objective on shares of e.l.f. Beauty from $80.00 to $75.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $121.13.

e.l.f. Beauty Stock Performance

Shares of ELF stock traded up $0.95 during mid-day trading on Wednesday, reaching $117.94. 1,579,353 shares of the company's stock traded hands, compared to its average volume of 2,556,325. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.00 and a current ratio of 3.05. The firm has a market capitalization of $6.64 billion, a PE ratio of 61.11, a price-to-earnings-growth ratio of 2.77 and a beta of 1.52. e.l.f. Beauty has a 12 month low of $49.40 and a 12 month high of $219.77. The firm has a 50 day moving average price of $102.55 and a two-hundred day moving average price of $90.29.

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

Insiders Place Their Bets

In other news, SVP Joshua Allen Franks sold 1,496 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $117.61, for a total value of $175,944.56. Following the completion of the sale, the senior vice president owned 120,471 shares of the company's stock, valued at approximately $14,168,594.31. This represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott Milsten sold 1,442 shares of e.l.f. Beauty stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $114.78, for a total transaction of $165,512.76. Following the transaction, the insider directly owned 117,394 shares in the company, valued at approximately $13,474,483.32. The trade was a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 327,207 shares of company stock worth $25,252,926. 3.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Nemes Rush Group LLC purchased a new position in e.l.f. Beauty in the fourth quarter valued at about $27,000. Orion Capital Management LLC purchased a new position in shares of e.l.f. Beauty in the 4th quarter worth approximately $30,000. Golden State Wealth Management LLC bought a new position in shares of e.l.f. Beauty during the 1st quarter worth approximately $33,000. Larson Financial Group LLC raised its stake in shares of e.l.f. Beauty by 56.5% during the 1st quarter. Larson Financial Group LLC now owns 676 shares of the company's stock worth $42,000 after acquiring an additional 244 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in e.l.f. Beauty by 577.7% during the first quarter. Smartleaf Asset Management LLC now owns 759 shares of the company's stock valued at $49,000 after acquiring an additional 647 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

e.l.f. Beauty Company Profile

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.