e.l.f. Beauty (NYSE:ELF) Price Target Raised to $155.00

Key Points

• The Goldman Sachs Group raised e.l.f. Beauty's price target from $137.00 to $155.00, suggesting a potential upside of 13.68% based on the stock's previous close.
• e.l.f. Beauty stock has recently traded up by 0.8%, hitting $136.35, with a market capitalization of $8.09 billion.
• In the last three months, e.l.f. Beauty insiders sold shares worth over $25 million, indicating significant trading activity among company executives.

e.l.f. Beauty (NYSE:ELF - Get Free Report) had its price target boosted by research analysts at The Goldman Sachs Group from $137.00 to $155.00 in a report released on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's price target indicates a potential upside of 13.68% from the stock's previous close.

ELF has been the topic of a number of other reports. Canaccord Genuity Group set a $165.00 price target on e.l.f. Beauty in a research report on Tuesday, September 9th. Piper Sandler began coverage on e.l.f. Beauty in a research report on Thursday, September 4th. They set an "overweight" rating and a $150.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut e.l.f. Beauty from a "buy" rating to a "hold" rating and increased their price target for the stock from $121.00 to $128.00 in a research report on Tuesday, September 2nd. Morgan Stanley upgraded e.l.f. Beauty from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $114.00 to $134.00 in a research report on Monday, August 11th. Finally, Truist Financial increased their price target on e.l.f. Beauty from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, e.l.f. Beauty presently has a consensus rating of "Moderate Buy" and an average target price of $134.60.

e.l.f. Beauty Stock Up 0.8%

NYSE ELF traded up $1.15 on Thursday, hitting $136.35. 452,990 shares of the stock traded hands, compared to its average volume of 2,538,786. The stock has a 50-day moving average of $125.85 and a 200 day moving average of $101.07. e.l.f. Beauty has a twelve month low of $49.40 and a twelve month high of $150.99. The company has a market capitalization of $8.09 billion, a P/E ratio of 80.35, a price-to-earnings-growth ratio of 3.07 and a beta of 1.57. The company has a current ratio of 3.26, a quick ratio of 2.34 and a debt-to-equity ratio of 0.32.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. e.l.f. Beauty had a return on equity of 16.36% and a net margin of 7.29%.The firm had revenue of $353.74 million for the quarter, compared to analysts' expectations of $348.99 million. During the same quarter in the prior year, the firm posted $1.10 earnings per share. e.l.f. Beauty's revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, analysts expect that e.l.f. Beauty will post 2.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Joshua Allen Franks sold 7,913 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $145.00, for a total transaction of $1,147,385.00. Following the completion of the sale, the senior vice president directly owned 99,369 shares in the company, valued at approximately $14,408,505. This trade represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Scott Milsten sold 15,000 shares of the business's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $150.23, for a total value of $2,253,450.00. Following the sale, the insider directly owned 97,406 shares in the company, valued at $14,633,303.38. This trade represents a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 184,745 shares of company stock worth $25,613,238. Company insiders own 3.90% of the company's stock.

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

Institutional investors have recently modified their holdings of the stock. Champlain Investment Partners LLC increased its position in e.l.f. Beauty by 19.7% in the 1st quarter. Champlain Investment Partners LLC now owns 2,665,026 shares of the company's stock worth $167,337,000 after purchasing an additional 438,575 shares during the last quarter. Swedbank AB lifted its stake in shares of e.l.f. Beauty by 42.6% in the 1st quarter. Swedbank AB now owns 1,157,760 shares of the company's stock valued at $72,696,000 after purchasing an additional 345,760 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in e.l.f. Beauty by 11.0% in the second quarter. Mackenzie Financial Corp now owns 957,941 shares of the company's stock worth $119,206,000 after purchasing an additional 95,270 shares in the last quarter. Congress Asset Management Co. increased its position in e.l.f. Beauty by 1.3% during the second quarter. Congress Asset Management Co. now owns 951,309 shares of the company's stock worth $118,381,000 after buying an additional 12,339 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of e.l.f. Beauty during the 2nd quarter valued at about $118,058,000. 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 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.

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