Elf Beauty price target lowered to $135 from $155 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Elf Beauty (ELF) to $135 from $155 and keeps a Buy rating on the shares. Elf’s Q2 results were mixed, with revenue missing expectations due to a temporary pause in shipments but EPS exceeding estimates on stronger margins and lower SG&A, the analyst tells investors in a research note. Management’s FY26 outlook disappointed, calling for only 3%-4% organic growth amid tough comparisons and shipment timing issues, despite strong underlying consumption trends. While the stock may face near-term pressure, the company’s conservative guidance and continued market share gains suggest potential upside once shipments normalize, the firm says.