e.l.f. Beauty (NYSE:ELF) Shares Gap Up - What's Next?

Shares of e.l.f. Beauty, Inc. (NYSE:ELF - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $66.84, but opened at $74.50. e.l.f. Beauty shares last traded at $74.65, with a volume of 684,880 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ELF shares. Raymond James reduced their price objective on e.l.f. Beauty from $120.00 to $85.00 and set a "strong-buy" rating for the company in a research report on Thursday, April 17th. Stifel Nicolaus reduced their price target on e.l.f. Beauty from $115.00 to $105.00 and set a "hold" rating for the company in a research note on Monday, February 3rd. B. Riley reissued a "buy" rating and issued a $90.00 price target (down previously from $150.00) on shares of e.l.f. Beauty in a research note on Friday, February 7th. Truist Financial dropped their target price on e.l.f. Beauty from $100.00 to $75.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Canaccord Genuity Group reduced their price target on e.l.f. Beauty from $174.00 to $105.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $116.88.

e.l.f. Beauty Price Performance

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 cap of $4.20 billion, a PE ratio of 44.02, a P/E/G ratio of 6.76 and a beta of 1.31. The stock has a 50-day simple moving average of $61.35 and a 200 day simple moving average of $94.43.

Insider Buying and Selling at e.l.f. Beauty

In related news, CEO Tarang Amin sold 97,915 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now directly owns 181,289 shares of the company's stock, valued at approximately $9,673,581.04. The trade was a 35.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kory Marchisotto sold 51,350 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $53.36, for a total value of $2,740,036.00. Following the completion of the transaction, the insider now directly owns 152,492 shares of the company's stock, valued at approximately $8,136,973.12. This trade represents a 25.19% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 204,618 shares of company stock valued at $10,974,536. Company insiders own 3.50% of the company's stock.

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

Institutional investors and hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new position in shares of e.l.f. Beauty during the 3rd quarter worth approximately $25,000. Nemes Rush Group LLC bought a new stake in e.l.f. Beauty in the fourth quarter worth about $27,000. Orion Capital Management LLC bought a new stake in shares of e.l.f. Beauty during the fourth quarter valued at approximately $30,000. Promus Capital LLC acquired a new position in shares of e.l.f. Beauty in the 4th quarter valued at $31,000. Finally, Kestra Investment Management LLC acquired a new stake in e.l.f. Beauty during the 4th quarter worth about $32,000. 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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