JPMorgan Chase & Co. Cuts e.l.f. Beauty (NYSE:ELF) Price Target to $106.00

Key Points

• JPMorgan lowered e.l.f. Beauty’s price target from $111 to $106 while maintaining an “overweight” rating, implying approximately 5.6% upside from the reported share price.
• e.l.f. Beauty reported strong quarterly results, with EPS of $1.75 versus the $0.71 consensus estimate and revenue of $479.37 million, up 35.5% year over year.
• Analyst sentiment remains broadly positive: the stock has a consensus “Moderate Buy” rating and an average price target of $91.31, while shares were trading at $100.38 with a P/E ratio above 100.

e.l.f. Beauty (NYSE:ELF - Get Free Report) had its target price lowered by equities researchers at JPMorgan Chase & Co. from $111.00 to $106.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 5.60% from the company's current price.

ELF has been the topic of a number of other reports. Bank of America dropped their price target on shares of e.l.f. Beauty from $93.00 to $85.00 and set a "buy" rating on the stock in a research note on Thursday, May 21st. Jefferies Financial Group boosted their target price on shares of e.l.f. Beauty from $72.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Weiss Ratings raised e.l.f. Beauty from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, July 30th. Citigroup lifted their price target on e.l.f. Beauty from $87.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $64.00 price objective on shares of e.l.f. Beauty in a research note on Tuesday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $91.31.

e.l.f. Beauty Stock Performance

Shares of ELF traded up $7.87 during mid-day trading on Wednesday, hitting $100.38. The stock had a trading volume of 2,065,595 shares, compared to its average volume of 2,823,329. e.l.f. Beauty has a 52 week low of $48.82 and a 52 week high of $150.99. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.55 and a quick ratio of 1.82. The business has a fifty day moving average price of $77.10 and a 200-day moving average price of $71.78. The firm has a market cap of $5.92 billion, a P/E ratio of 100.43, a PEG ratio of 2.88 and a beta of 1.58.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $0.71 by $1.04. e.l.f. Beauty had a return on equity of 14.07% and a net margin of 3.38%.The company had revenue of $479.37 million during the quarter, compared to the consensus estimate of $431.20 million. During the same quarter in the prior year, the company earned $0.89 EPS. The firm's quarterly revenue was up 35.5% compared to the same quarter last year. e.l.f. Beauty has set its FY 2027 guidance at 3.500-3.550 EPS. On average, equities research analysts expect that e.l.f. Beauty will post 2.61 EPS for the current year.

Insider Activity

In other news, insider Jennifer Catherine Hartnett sold 25,357 shares of e.l.f. Beauty stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $80.00, for a total transaction of $2,028,560.00. Following the completion of the sale, the insider directly owned 28,699 shares of the company's stock, valued at approximately $2,295,920. The trade was a 46.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mandy J. Fields sold 4,327 shares of the company's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $51.53, for a total transaction of $222,970.31. Following the completion of the transaction, the insider owned 106,961 shares of the company's stock, valued at $5,511,700.33. This trade represents a 3.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 134,028 shares of company stock worth $9,422,961. Corporate insiders own 3.50% of the company's stock.

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

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of e.l.f. Beauty in the second quarter worth $428,262,000. Primecap Management Co. CA bought a new position in shares of e.l.f. Beauty during the second quarter valued at about $78,202,000. BNP Paribas Financial Markets raised its stake in shares of e.l.f. Beauty by 3,131.7% during the fourth quarter. BNP Paribas Financial Markets now owns 924,902 shares of the company's stock valued at $70,330,000 after acquiring an additional 896,282 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of e.l.f. Beauty by 47.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,197,319 shares of the company's stock worth $167,086,000 after purchasing an additional 711,540 shares during the period. Finally, Swedbank AB grew its stake in shares of e.l.f. Beauty by 97.0% in the fourth quarter. Swedbank AB now owns 1,364,801 shares of the company's stock worth $103,779,000 after purchasing an additional 672,071 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

About e.l.f. Beauty

e.l.f. Beauty NYSE: ELF is an American cosmetics company known for offering an extensive range of affordable, trend-driven makeup and skincare products. The company's portfolio spans foundations, lipsticks, mascaras, brushes, serums, masks and other beauty essentials, all positioned at accessible price points. e.l.f. Beauty maintains a direct-to-consumer platform through its e-commerce site and engages in widespread retail partnerships with major chains such as Target, Walmart, Ulta Beauty and Amazon.

Founded in 2004 and headquartered in Oakland, California, e.l.f.

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