In a report released yesterday, Dara Mohsenian from Morgan Stanley maintained a Hold rating on e.l.f. Beauty (ELF – Research Report), with a price target of $105.00.
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Dara Mohsenian has given his Hold rating due to a combination of factors influencing e.l.f. Beauty’s current market position. The company’s recent sales data shows a significant year-over-year growth, with the latest two-week period ending on May 31st reflecting a 25.3% increase, and a 26.3% rise in the most recent week. This positive trend is further supported by a 21.6% growth over the last four weeks, which is an improvement from the previous period.
However, despite these promising sales figures, Mohsenian’s Hold rating suggests a cautious approach, likely considering the company’s current market valuation and potential future challenges. While e.l.f. Beauty’s market share has increased, and its velocity has shown slight improvement, these factors might not be sufficient to warrant a more optimistic rating such as Buy. The Hold rating indicates that while the company is performing well, there may be uncertainties or risks that prevent a stronger recommendation at this time.
According to TipRanks, Mohsenian is a 5-star analyst with an average return of 7.7% and a 64.42% success rate. Mohsenian covers the Consumer Defensive sector, focusing on stocks such as Keurig Dr Pepper, PepsiCo, and Coca-Cola.
In another report released on May 29, Deutsche Bank also maintained a Hold rating on the stock with a $96.00 price target.
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