e.l.f. Beauty (NYSE:ELF) Releases FY 2023 Earnings Guidance

e.l.f. Beauty (NYSE:ELFGet Rating) updated its FY 2023 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.78-$0.81 for the period, compared to the consensus estimate of $0.84. The company issued revenue guidance of $432.00 million-$440.00 million, compared to the consensus revenue estimate of $401.63 million.

A number of equities research analysts have weighed in on the stock. Piper Sandler cut their price objective on shares of e.l.f. Beauty from $32.00 to $29.00 and set a neutral rating on the stock in a report on Tuesday, April 19th. JPMorgan Chase & Co. cut their price target on shares of e.l.f. Beauty from $38.00 to $31.00 and set an overweight rating on the stock in a report on Wednesday, March 30th. DA Davidson increased their price target on shares of e.l.f. Beauty from $40.00 to $41.00 and gave the company a buy rating in a report on Thursday, February 3rd. Zacks Investment Research cut shares of e.l.f. Beauty from a hold rating to a sell rating in a report on Thursday, January 27th. Finally, StockNews.com began coverage on shares of e.l.f. Beauty in a report on Thursday, March 31st. They set a hold rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, e.l.f. Beauty presently has a consensus rating of Hold and an average target price of $34.67.

ELF stock traded up $1.10 on Wednesday, hitting $22.15. The company had a trading volume of 886,525 shares, compared to its average volume of 460,632. e.l.f. Beauty has a 12-month low of $20.49 and a 12-month high of $33.63. The company has a current ratio of 2.96, a quick ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock’s 50-day simple moving average is $24.49 and its 200 day simple moving average is $27.55. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 55.40 and a beta of 1.91.

In other e.l.f. Beauty news, insider Scott Milsten sold 25,027 shares of the stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $25.47, for a total value of $637,437.69. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Tarang Amin sold 30,425 shares of the firm’s stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $25.47, for a total transaction of $774,924.75. The disclosure for this sale can be found here. Insiders sold 120,294 shares of company stock worth $3,067,775 in the last 90 days. 11.10% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of e.l.f. Beauty by 0.9% during the 1st quarter. BlackRock Inc. now owns 7,287,057 shares of the company’s stock valued at $188,224,000 after purchasing an additional 67,611 shares during the period. Vanguard Group Inc. raised its position in shares of e.l.f. Beauty by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 5,488,985 shares of the company’s stock valued at $141,780,000 after purchasing an additional 136,521 shares during the period. State Street Corp raised its position in shares of e.l.f. Beauty by 5.3% during the 1st quarter. State Street Corp now owns 1,525,830 shares of the company’s stock valued at $39,412,000 after purchasing an additional 76,369 shares during the period. Dimensional Fund Advisors LP raised its position in shares of e.l.f. Beauty by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,100,141 shares of the company’s stock valued at $28,417,000 after purchasing an additional 22,309 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of e.l.f. Beauty by 4.7% during the 1st quarter. Renaissance Technologies LLC now owns 945,900 shares of the company’s stock valued at $24,433,000 after purchasing an additional 42,400 shares during the period. Hedge funds and other institutional investors own 90.95% of the company’s stock.

About e.l.f. Beauty (Get Rating)

e.l.f. Beauty, Inc, together with its subsidiaries, provides cosmetic and skin care products under the e.l.f., W3LL PEOPLE, and Keys Soulcare brand names worldwide. The company offers eye, lip, face, and skin care products. It sells its products through national and international retailers and direct-to-consumer channels, which include e-commerce platforms in the United States; and internationally primarily through distributors.

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Earnings History and Estimates for e.l.f. Beauty (NYSE:ELF)

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