JPMorgan Chase & Co. Issues Pessimistic Forecast for e.l.f. Beauty (NYSE:ELF) Stock Price

Key Points

• JPMorgan Chase & Co. has revised e.l.f. Beauty's target price down from $132.00 to $130.00, while maintaining an "overweight" rating, indicating a potential upside of 30.14% from the current price.
• Despite the downgrade, other analysts such as B. Riley and Raymond James have raised their price targets significantly, with B. Riley setting a target of $150.00 and Raymond James reporting $105.00.
• e.l.f. Beauty's shares are currently trading down 9.5%, with recent trading activity showing over 7.6 million shares exchanged, significantly surpassing the average volume.

e.l.f. Beauty (NYSE:ELF - Get Free Report) had its target price dropped by equities researchers at JPMorgan Chase & Co. from $132.00 to $130.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 30.14% from the company's current price.

A number of other analysts have also recently commented on the stock. B. Riley reiterated a "buy" rating and issued a $150.00 target price (up from $110.00) on shares of e.l.f. Beauty in a research note on Friday, June 13th. Raymond James Financial upped their target price on e.l.f. Beauty from $95.00 to $105.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 29th. Piper Sandler reaffirmed an "overweight" rating and set a $109.00 price target (up previously from $81.00) on shares of e.l.f. Beauty in a research report on Thursday, May 29th. Truist Financial upped their target price on e.l.f. Beauty from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Jefferies Financial Group set a $115.00 price objective on shares of e.l.f. Beauty and gave the stock a "buy" rating in a research note on Thursday, May 29th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, e.l.f. Beauty has a consensus rating of "Moderate Buy" and a consensus price target of $124.69.

e.l.f. Beauty Trading Down 9.5%

Shares of NYSE ELF traded down $10.50 during trading hours on Thursday, hitting $99.90. 7,605,046 shares of the company traded hands, compared to its average volume of 2,699,512. The company's 50 day moving average price is $118.70 and its 200 day moving average price is $88.49. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 51.76, a price-to-earnings-growth ratio of 2.62 and a beta of 1.57. The company has a current ratio of 3.05, a quick ratio of 2.00 and a debt-to-equity ratio of 0.34. e.l.f. Beauty has a 12 month low of $49.40 and a 12 month high of $188.15.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.05. The company had revenue of $353.74 million during the quarter, compared to analyst estimates of $348.99 million. e.l.f. Beauty had a net margin of 8.53% and a return on equity of 17.98%. The firm's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 earnings per share. On average, equities research analysts anticipate that e.l.f. Beauty will post 2.38 earnings per share for the current fiscal year.

Insider Activity at e.l.f. Beauty

In related news, insider Scott Milsten sold 1,442 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $114.78, for a total transaction of $165,512.76. Following the sale, the insider directly owned 117,394 shares in the company, valued at approximately $13,474,483.32. This represents a 1.21% 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 1,496 shares of e.l.f. Beauty stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $117.61, for a total transaction of $175,944.56. Following the sale, the insider owned 158,303 shares in the company, valued at $18,618,015.83. This represents a 0.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 126,589 shares of company stock valued at $14,547,949 over the last 90 days. Corporate insiders own 3.90% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new position in e.l.f. Beauty during the fourth quarter worth $30,000. Golden State Wealth Management LLC purchased a new position in shares of e.l.f. Beauty in the 1st quarter valued at about $33,000. Larson Financial Group LLC lifted its stake in shares of e.l.f. Beauty by 56.5% in the first quarter. Larson Financial Group LLC now owns 676 shares of the company's stock valued at $42,000 after purchasing an additional 244 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of e.l.f. Beauty by 577.7% in the first quarter. Smartleaf Asset Management LLC now owns 759 shares of the company's stock valued at $49,000 after purchasing an additional 647 shares during the period. Finally, Huntington National Bank grew its position in e.l.f. Beauty by 133.3% during the second quarter. Huntington National Bank now owns 427 shares of the company's stock worth $53,000 after buying an additional 244 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

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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