Morgan Stanley analyst Dara Mohsenian has maintained their bullish stance on ELF stock, giving a Buy rating on September 9.
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Dara Mohsenian has given his Buy rating due to a combination of factors that highlight e.l.f. Beauty’s strong market performance. The company’s recent sales data shows a robust year-over-year growth of 14% in the latest two weeks, which is a significant improvement from the previous period. This growth is primarily driven by increased pricing, indicating a strong demand for e.l.f. Beauty’s products.
Additionally, e.l.f. Beauty has demonstrated solid market share gains, with an increase of 164 basis points year-over-year in the last week. The company’s velocity and total distribution points have also shown positive trends, further supporting the Buy rating. These factors collectively suggest that e.l.f. Beauty is well-positioned for continued success, making it an attractive investment opportunity.
In another report released on September 9, Canaccord Genuity also reiterated a Buy rating on the stock with a $165.00 price target.