e.l.f. Beauty (NYSE:ELF) Price Target Raised to $168.00

Key Points

• JPMorgan Chase & Co. has raised the price target for e.l.f. Beauty from $130.00 to $168.00, indicating a potential upside of 17.86% based on the company's current stock price.
• Several other analysts, including UBS Group and Bank of America, also increased their price targets, with average estimates now suggesting significant growth for the stock.
• e.l.f. Beauty recently reported Q2 earnings that surpassed expectations with a 9.0% revenue increase year-over-year and an EPS of $0.89, indicating overall strong financial performance.

e.l.f. Beauty (NYSE:ELF - Get Free Report) had its price target upped by analysts at JPMorgan Chase & Co. from $130.00 to $168.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 17.86% from the company's current price.

Other equities analysts have also issued research reports about the stock. UBS Group upped their price target on shares of e.l.f. Beauty from $112.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday. Bank of America boosted their price objective on shares of e.l.f. Beauty from $135.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, September 17th. Canaccord Genuity Group set a $165.00 price objective on shares of e.l.f. Beauty in a research note on Tuesday, September 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of e.l.f. Beauty in a research note on Wednesday. Finally, B. Riley boosted their price objective on shares of e.l.f. Beauty from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $142.07.

e.l.f. Beauty Stock Performance

NYSE:ELF opened at $142.54 on Friday. e.l.f. Beauty has a 1-year low of $49.40 and a 1-year high of $150.99. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.26 and a quick ratio of 2.34. The firm has a 50 day simple moving average of $128.12 and a 200-day simple moving average of $104.21. The firm has a market cap of $8.46 billion, a PE ratio of 83.83, a P/E/G ratio of 3.37 and a beta of 1.57.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. e.l.f. Beauty had a net margin of 7.29% and a return on equity of 16.36%. The firm had revenue of $353.74 million during the quarter, compared to analyst estimates of $348.99 million. During the same quarter in the prior year, the business 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. On average, equities analysts expect that e.l.f. Beauty will post 2.38 EPS for the current year.

Insider Transactions at e.l.f. Beauty

In related news, insider Scott Milsten sold 15,000 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were 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 of the company's stock, valued at $14,633,303.38. This represents a 13.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Joshua Allen Franks sold 7,913 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $145.00, for a total transaction of $1,147,385.00. Following the sale, the senior vice president directly owned 99,369 shares in the company, valued at $14,408,505. This trade represents a 7.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,060 shares of company stock valued at $40,994,733 over the last ninety days. 3.90% of the stock is currently owned by corporate insiders.

Institutional Trading of e.l.f. Beauty

A number of large investors have recently modified their holdings of ELF. Park Avenue Securities LLC increased its holdings in shares of e.l.f. Beauty by 24.7% in the 1st quarter. Park Avenue Securities LLC now owns 12,038 shares of the company's stock worth $756,000 after acquiring an additional 2,387 shares during the period. GAMMA Investing LLC increased its holdings in shares of e.l.f. Beauty by 132.2% in the 1st quarter. GAMMA Investing LLC now owns 1,999 shares of the company's stock worth $126,000 after acquiring an additional 1,138 shares during the period. Fifth Third Bancorp increased its holdings in shares of e.l.f. Beauty by 1.0% in the 1st quarter. Fifth Third Bancorp now owns 21,751 shares of the company's stock worth $1,366,000 after acquiring an additional 216 shares during the period. Robbins Farley increased its holdings in shares of e.l.f. Beauty by 3.6% in the 1st quarter. Robbins Farley now owns 35,646 shares of the company's stock worth $2,238,000 after acquiring an additional 1,250 shares during the period. Finally, Sowell Financial Services LLC bought a new position in e.l.f. Beauty in the 1st quarter valued at about $486,000. Institutional investors and hedge funds own 92.44% of the company's stock.

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.

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