Analyst Dara Mohsenian of Morgan Stanley maintained a Hold rating on e.l.f. Beauty (ELF – Research Report), retaining the price target of $70.00.
Dara Mohsenian’s rating is based on a combination of factors, primarily focusing on the recent performance trends of e.l.f. Beauty’s sales data. The company’s US scanner sales, including those from Amazon, have shown a decline in growth over the latest weeks compared to previous periods. This trend indicates a slowdown in sales momentum, which is a concern for potential investors.
Additionally, e.l.f. Beauty’s market share has remained relatively flat, lacking the significant gains seen in earlier periods. The velocity of sales has also decreased, marking a downward trend for the fifth consecutive period. These factors collectively suggest a cautious outlook, leading to the Hold rating as investors may want to wait for more favorable conditions before making further investment decisions.
According to TipRanks, Mohsenian is a 5-star analyst with an average return of 7.6% and a 64.81% success rate. Mohsenian covers the Consumer Defensive sector, focusing on stocks such as Colgate-Palmolive, Coca-Cola, and PepsiCo.
In another report released on February 19, D.A. Davidson also maintained a Hold rating on the stock with a $80.00 price target.