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

Key Points

• JPMorgan Chase & Co. raised its price target on e.l.f. Beauty from $80 to $94 and kept an overweight rating, implying about 26% upside from the prior close.
• Other analysts remain mostly constructive on the stock, with the consensus rating at Moderate Buy and an average target price of $80.88.
• e.l.f. Beauty recently beat quarterly expectations, posting $0.32 EPS on $449.29 million in revenue, while revenue jumped 35.1% year over year.

e.l.f. Beauty (NYSE:ELF - Get Free Report) had its price objective hoisted by equities researchers at JPMorgan Chase & Co. from $80.00 to $94.00 in a report released on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 26.27% from the company's previous close.

Other equities analysts have also issued research reports about the company. Weiss Ratings upgraded e.l.f. Beauty from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, June 18th. Evercore initiated coverage on e.l.f. Beauty in a report on Thursday, April 2nd. They set an "inline" rating and a $68.00 target price on the stock. Piper Sandler reiterated a "neutral" rating on shares of e.l.f. Beauty in a research report on Friday, June 12th. Jefferies Financial Group decreased their price target on e.l.f. Beauty from $85.00 to $70.00 and set a "buy" rating for the company in a report on Thursday, May 21st. Finally, Citigroup upped their price objective on e.l.f. Beauty from $87.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, e.l.f. Beauty presently has an average rating of "Moderate Buy" and an average target price of $80.88.

e.l.f. Beauty Stock Performance

NYSE ELF traded up $0.23 on Thursday, hitting $74.44. 970,549 shares of the company's stock traded hands, compared to its average volume of 2,866,646. The firm's 50-day moving average price is $62.11 and its two-hundred day moving average price is $71.64. The firm has a market capitalization of $4.39 billion, a PE ratio of 162.07, a P/E/G ratio of 2.81 and a beta of 1.59. The company has a current ratio of 2.35, a quick ratio of 1.69 and a debt-to-equity ratio of 0.72. e.l.f. Beauty has a 1-year low of $48.82 and a 1-year high of $150.99.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its quarterly earnings data on Wednesday, May 20th. The company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. The firm had revenue of $449.29 million for the quarter, compared to analyst estimates of $423.06 million. e.l.f. Beauty had a net margin of 1.61% and a return on equity of 11.02%. The business's quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 earnings per share. e.l.f. Beauty has set its FY 2027 guidance at 3.270-3.320 EPS. As a group, analysts expect that e.l.f. Beauty will post 2.42 EPS for the current year.

Insider Activity at e.l.f. Beauty

In other news, insider Scott Milsten sold 23,797 shares of the company's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $63.66, for a total transaction of $1,514,917.02. Following the completion of the transaction, the insider directly owned 114,940 shares of the company's stock, valued at $7,317,080.40. This represents a 17.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Kory Marchisotto sold 23,796 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $63.66, for a total value of $1,514,853.36. Following the transaction, the insider owned 152,417 shares in the company, valued at $9,702,866.22. This trade represents a 13.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 278,988 shares of company stock valued at $18,354,580 in the last ninety days. 3.50% of the stock is currently owned by company insiders.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELF. BNP Paribas Financial Markets lifted its stake in e.l.f. Beauty by 3,131.7% in the 4th quarter. BNP Paribas Financial Markets now owns 924,902 shares of the company's stock valued at $70,330,000 after buying an additional 896,282 shares in the last quarter. Price T Rowe Associates Inc. MD raised 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 valued at $167,086,000 after acquiring an additional 711,540 shares during the last quarter. Swedbank AB raised its holdings in shares of e.l.f. Beauty by 97.0% during the fourth quarter. Swedbank AB now owns 1,364,801 shares of the company's stock valued at $103,779,000 after acquiring an additional 672,071 shares during the last quarter. Armistice Capital LLC lifted its position in shares of e.l.f. Beauty by 394.9% in the fourth quarter. Armistice Capital LLC now owns 657,983 shares of the company's stock valued at $50,033,000 after acquiring an additional 525,018 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of e.l.f. Beauty in the fourth quarter worth approximately $38,895,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

e.l.f. Beauty Company Profile

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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