Analyst Dara Mohsenian of Morgan Stanley maintained a Buy rating on e.l.f. Beauty, retaining the price target of $134.00.
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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 and growth potential. The company’s recent US Nielsen scanner data indicates a notable year-over-year sales growth of 8.8% in the latest two weeks, with a further increase to 10.3% in the most recent week. This growth surpasses the 7.2% increase observed in the prior two weeks, showcasing a positive trend in sales momentum.
Additionally, e.l.f. Beauty has experienced a significant rise in market share, gaining 90 basis points year-over-year in the last week and 69 basis points over the last two weeks. Despite a slight deceleration in total distribution points growth, the company’s velocity improved by 4.4% in the latest week, indicating effective sales strategies. These factors collectively suggest a robust market position and potential for continued success, justifying the Buy rating.
In another report released on August 23, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $134.00 price target.
Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ELF in relation to earlier this year.