Ashley Helgans, an analyst from Jefferies, maintained the Buy rating on e.l.f. Beauty (ELF – Research Report). The associated price target was raised to $150.00.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Ashley Helgans has given his Buy rating due to a combination of factors, including the strategic acquisition of Rhode by e.l.f. Beauty, which is expected to significantly boost the company’s earnings per share by fiscal year 2026. The acquisition is anticipated to enhance e.l.f. Beauty’s product offerings and diversify its price tiers, allowing the company to appeal to a broader range of consumers, from value-seekers to those willing to spend more on beauty products.
Moreover, the impressive growth in web traffic and engagement metrics for Rhode, particularly following the launch of new products, underscores the brand’s strong market presence and potential for further expansion. Additionally, the partnership with Sephora and the anticipated rollout in North America and the UK are expected to strengthen e.l.f. Beauty’s distribution network and brand visibility. These factors collectively suggest a promising growth trajectory for e.l.f. Beauty, justifying the Buy rating.
In another report released on June 6, Truist Financial also maintained a Buy rating on the stock with a $130.00 price target.
Based on the recent corporate insider activity of 64 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.
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue