D.A. Davidson analyst Linda Bolton Weiser has maintained their neutral stance on ELF stock, giving a Hold rating on March 18.
Linda Bolton Weiser has given her Hold rating due to a combination of factors affecting e.l.f. Beauty’s performance. The company’s U.S. point-of-sale data has shown softness, with only a slight year-over-year growth in recent weeks. Despite a recent uptick, the overall trend in sales has been inconsistent, which raises concerns about sustained growth.
Furthermore, while international growth appears strong, the guidance for future quarters suggests potential challenges in meeting market expectations, particularly in the U.S. market. The anticipated product launches may not be enough to significantly boost sales figures. Consequently, the target price has been adjusted downward, reflecting a more cautious outlook on the company’s near-term performance.
Bolton Weiser covers the Consumer Cyclical sector, focusing on stocks such as e.l.f. Beauty, The Estée Lauder Companies, and Coty. According to TipRanks, Bolton Weiser has an average return of -3.3% and a 40.97% success rate on recommended stocks.
In another report released on March 18, Morgan Stanley also maintained a Hold rating on the stock with a $70.00 price target.