Piper Sandler analyst Anna Andreeva lowered the firm’s price target on Elf Beauty (ELF) to $85 from $100 and keeps a Neutral rating on the shares. Based on SPINS data through November 30, the firm takes a look at Elf’s market share vs. competition. After slowing in Q2 2026, so far in Q3 2026, Elf’s share gains are improving, although competition is back on offense as well, making innovation increasingly more critical as a differentiator in this space.
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