William Blair analyst Jon Andersen has maintained their bullish stance on ELF stock, giving a Buy rating on February 21.
Jon Andersen has given his Buy rating due to a combination of factors including e.l.f. Beauty’s successful scaling in the beauty industry. The company has been able to leverage its strengths in value proposition, innovation, and marketing to effectively compete and expand its market presence.
Furthermore, e.l.f. Beauty’s management has expressed confidence in capturing more market share by exploiting significant growth opportunities. These strategic advantages and future growth potential have contributed to Andersen’s positive outlook on the stock.
In another report released on February 21, Goldman Sachs also maintained a Buy rating on the stock with a $124.00 price target.
Based on the recent corporate insider activity of 66 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.