e.l.f. Beauty, the Consumer Defensive sector company, was revisited by a Wall Street analyst yesterday. Analyst Dara Mohsenian from Morgan Stanley maintained a Buy rating on the stock and has a $121.00 price target.
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Dara Mohsenian has given his Buy rating due to a combination of factors, primarily focusing on e.l.f. Beauty’s robust sales growth and market share expansion. The company’s year-over-year sales growth was notable, with a 12.9% increase in the latest two weeks and an 8.8% rise in the most recent week, indicating strong performance despite some weekly volatility.
Additionally, e.l.f. Beauty’s market share has shown positive momentum, increasing by 12 basis points year-over-year in the last week and 45 basis points over the last two weeks. The company’s velocity and total distribution points (TDP) have also improved, reflecting enhanced market presence and product availability. These factors collectively suggest a positive outlook for e.l.f. Beauty, supporting the Buy rating recommendation.
Based on the recent corporate insider activity of 78 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.