e.l.f. Beauty (NYSE:ELF) Coverage Initiated at The Goldman Sachs Group

Equities research analysts at The Goldman Sachs Group began coverage on shares of e.l.f. Beauty (NYSE:ELF) in a research note issued on Friday, Marketbeat Ratings reports. The firm set a “buy” rating and a $165.00 price target on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 17.33% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Truist Financial dropped their price target on e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Jefferies Financial Group decreased their price objective on shares of e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Canaccord Genuity Group dropped their target price on shares of e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. TD Cowen lowered their price target on shares of e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on e.l.f. Beauty in a report on Thursday. They set a “hold” rating and a $133.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $170.65.

e.l.f. Beauty Price Performance

NYSE:ELF opened at $140.63 on Friday. e.l.f. Beauty has a 52 week low of $98.50 and a 52 week high of $221.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.78. The company has a market capitalization of $7.92 billion, a price-to-earnings ratio of 76.02, a PEG ratio of 3.03 and a beta of 1.49. The company has a 50-day moving average of $118.97 and a 200-day moving average of $148.92.

e.l.f. Beauty (NYSE:ELF) last posted its earnings results on Wednesday, November 6th. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.43 by $0.34. e.l.f. Beauty had a return on equity of 19.34% and a net margin of 8.87%. The business had revenue of $301.10 million during the quarter, compared to the consensus estimate of $289.43 million. During the same quarter last year, the company earned $0.66 EPS. e.l.f. Beauty’s revenue was up 39.7% on a year-over-year basis. As a group, equities research analysts anticipate that e.l.f. Beauty will post 2.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other e.l.f. Beauty news, insider Scott Milsten sold 530 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $137.60, for a total value of $72,928.00. Following the sale, the insider now owns 68,853 shares in the company, valued at approximately $9,474,172.80. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Maureen C. Watson sold 785 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $130.00, for a total value of $102,050.00. Following the transaction, the director now owns 1,888 shares of the company’s stock, valued at $245,440. This trade represents a 29.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,205 shares of company stock valued at $297,442 in the last ninety days. 3.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On e.l.f. Beauty

Hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of e.l.f. Beauty by 139.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,203 shares of the company’s stock valued at $1,729,000 after purchasing an additional 4,776 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in e.l.f. Beauty by 44.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,300 shares of the company’s stock valued at $1,328,000 after buying an additional 1,935 shares during the period. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of e.l.f. Beauty during the 2nd quarter worth approximately $232,000. Raymond James & Associates boosted its holdings in shares of e.l.f. Beauty by 21.1% during the 2nd quarter. Raymond James & Associates now owns 123,631 shares of the company’s stock worth $26,052,000 after buying an additional 21,554 shares in the last quarter. Finally, Lifestyle Asset Management Inc. increased its stake in shares of e.l.f. Beauty by 24.1% in the 2nd quarter. Lifestyle Asset Management Inc. now owns 1,662 shares of the company’s stock valued at $350,000 after acquiring an additional 323 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Company Profile

e.l.f. Beauty, Inc, together with its subsidiaries, provides cosmetic and skin care products under the e.l.f. Cosmetics, e.l.f. Skin, Well People, and Keys Soulcare brand names worldwide. The company offers eye, lip, face, face, paw, and skin care products. It sells its products through national and international retailers and direct-to-consumer channels, which include e-commerce platforms in the United States, and internationally primarily through distributors.