e.l.f. Beauty (NYSE:ELF) Stock Price Up 3.8% - Should You Buy?

e.l.f. Beauty, Inc. (NYSE:ELF - Get Free Report)'s stock price traded up 3.8% during trading on Thursday . The stock traded as high as $129.25 and last traded at $129.24. 743,221 shares were traded during trading, a decline of 71% from the average session volume of 2,526,454 shares. The stock had previously closed at $124.52.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Raymond James increased their target price on shares of e.l.f. Beauty from $95.00 to $105.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. Piper Sandler reaffirmed an "overweight" rating and issued a $109.00 price target (up previously from $81.00) on shares of e.l.f. Beauty in a research note on Thursday, May 29th. Truist Financial lifted their price target on shares of e.l.f. Beauty from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday, June 6th. Canaccord Genuity Group set a $114.00 price objective on shares of e.l.f. Beauty in a report on Thursday, May 29th. Finally, Morgan Stanley boosted their price target on shares of e.l.f. Beauty from $70.00 to $105.00 and gave the company an "equal weight" rating in a research report on Thursday, May 29th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, e.l.f. Beauty has a consensus rating of "Moderate Buy" and a consensus target price of $120.71.

e.l.f. Beauty Price Performance

The firm has a fifty day moving average price of $77.49 and a two-hundred day moving average price of $91.58. 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 stock has a market capitalization of $7.25 billion, a P/E ratio of 76.03, a P/E/G ratio of 6.76 and a beta of 1.52.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its earnings results on Wednesday, May 28th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.06. The business had revenue of $332.65 million during the quarter, compared to analysts' expectations of $327.45 million. e.l.f. Beauty had a net margin of 7.55% and a return on equity of 16.88%. The business's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 earnings per share. On average, analysts expect that e.l.f. Beauty, Inc. will post 2.38 EPS for the current year.

Insider Activity

In other news, CEO Tarang Amin sold 97,915 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $53.36, for a total value of $5,224,744.40. Following the transaction, the chief executive officer now owns 181,289 shares of the company's stock, valued at $9,673,581.04. This trade represents a 35.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kory Marchisotto sold 51,350 shares of the 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 transaction, the insider now directly owns 152,492 shares of the company's stock, valued at approximately $8,136,973.12. The trade was a 25.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 327,207 shares of company stock valued at $25,252,926 in the last quarter. 3.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On e.l.f. Beauty

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nemes Rush Group LLC acquired a new stake in e.l.f. Beauty during the fourth quarter valued at $27,000. Orion Capital Management LLC acquired a new stake in shares of e.l.f. Beauty during the fourth quarter valued at about $30,000. Promus Capital LLC acquired a new stake in shares of e.l.f. Beauty during the fourth quarter worth about $31,000. Kestra Investment Management LLC purchased a new position in shares of e.l.f. Beauty in the 4th quarter valued at about $32,000. Finally, Golden State Wealth Management LLC acquired a new position in e.l.f. Beauty in the first quarter valued at approximately $33,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

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.