Canaccord Genuity Group Forecasts Strong Price Appreciation for e.l.f. Beauty (NYSE:ELF) Stock

e.l.f. Beauty (NYSE:ELF) had its price target boosted by investment analysts at Canaccord Genuity Group from $90.00 to $97.00 in a research report issued on Friday, Marketbeat.com reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 31.57% from the stock’s current price.

Several other analysts have also commented on ELF. B. Riley Financial lowered their price objective on shares of e.l.f. Beauty from $130.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, May 26th. Robert W. Baird reduced their target price on shares of e.l.f. Beauty from $115.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, April 28th. Sanford C. Bernstein assumed coverage on shares of e.l.f. Beauty in a research note on Thursday, June 11th. They set a “market perform” rating and a $60.00 price target for the company. Jefferies Financial Group lowered their price target on shares of e.l.f. Beauty from $85.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. Finally, Piper Sandler reiterated a “neutral” rating on shares of e.l.f. Beauty in a research note on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $81.31.

e.l.f. Beauty Trading Down 1.0%

Shares of e.l.f. Beauty stock opened at $73.72 on Friday. e.l.f. Beauty has a 1 year low of $48.82 and a 1 year high of $150.99. The firm has a market cap of $4.35 billion, a PE ratio of 160.27, a P/E/G ratio of 2.87 and a beta of 1.59. The stock has a fifty day moving average price of $62.63 and a 200-day moving average price of $71.62. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.35 and a quick ratio of 1.69.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings results 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 company had revenue of $449.29 million for the quarter, compared to the consensus estimate of $423.06 million. e.l.f. Beauty had a net margin of 1.61% and a return on equity of 11.02%. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. e.l.f. Beauty has set its FY 2027 guidance at 3.270-3.320 EPS. Equities research analysts anticipate that e.l.f. Beauty will post 2.42 EPS for the current year.

Insider Buying and Selling at e.l.f. Beauty

In other e.l.f. Beauty news, insider Mandy J. Fields sold 4,327 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $51.53, for a total transaction of $222,970.31. Following the sale, the insider directly owned 106,961 shares of the company’s stock, valued at $5,511,700.33. This represents a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Catherine Hartnett sold 25,357 shares of e.l.f. Beauty stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $80.00, for a total transaction of $2,028,560.00. Following the completion of the transaction, the insider owned 28,699 shares of the company’s stock, valued at $2,295,920. The trade was a 46.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 278,988 shares of company stock valued at $18,354,580. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ELF. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of e.l.f. Beauty during the fourth quarter worth $26,000. Hilton Head Capital Partners LLC bought a new position in shares of e.l.f. Beauty in the fourth quarter worth $32,000. EverSource Wealth Advisors LLC grew its position in shares of e.l.f. Beauty by 97.0% in the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the company’s stock valued at $32,000 after purchasing an additional 128 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of e.l.f. Beauty by 58.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 317 shares of the company’s stock valued at $39,000 after purchasing an additional 117 shares in the last quarter. Finally, Arax Advisory Partners bought a new stake in shares of e.l.f. Beauty during the 4th quarter valued at $41,000. 92.44% of the stock is currently 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.