JPMorgan Chase & Co. Increases e.l.f. Beauty (NYSE:ELF) Price Target to $94.00

e.l.f. Beauty (NYSE:ELF) had its price target raised by investment analysts at JPMorgan Chase & Co. from $80.00 to $94.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 26.27% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Robert W. Baird dropped their price target on e.l.f. Beauty from $115.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, April 28th. Jefferies Financial Group lowered their price objective on e.l.f. Beauty from $85.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. Evercore began coverage on e.l.f. Beauty in a report on Thursday, April 2nd. They issued an “inline” rating and a $68.00 target price for the company. Canaccord Genuity Group cut their target price on e.l.f. Beauty from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, May 21st. Finally, Piper Sandler reiterated a “neutral” rating on shares of e.l.f. Beauty in a report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.88.

e.l.f. Beauty Price Performance

Shares of NYSE:ELF traded up $0.23 during midday trading on Thursday, hitting $74.44. The company’s stock had a trading volume of 970,549 shares, compared to its average volume of 2,866,646. The business’s 50 day simple moving average is $62.11 and its 200 day simple moving average is $71.64. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.69 and a current ratio of 2.35. The company has a market cap of $4.39 billion, a P/E ratio of 162.07, a price-to-earnings-growth ratio of 2.81 and a beta of 1.59. e.l.f. Beauty has a 12-month low of $48.82 and a 12-month high of $150.99.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings data on Wednesday, May 20th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.03. The company had revenue of $449.29 million during the quarter, compared to analysts’ expectations of $423.06 million. e.l.f. Beauty had a net margin of 1.61% and a return on equity of 11.02%. e.l.f. Beauty’s revenue was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 EPS. e.l.f. Beauty has set its FY 2027 guidance at 3.270-3.320 EPS. On average, analysts forecast that e.l.f. Beauty will post 2.42 EPS for the current year.

Insider Activity

In other e.l.f. Beauty news, insider Kory Marchisotto sold 4,352 shares of e.l.f. Beauty stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $51.53, for a total transaction of $224,258.56. Following the completion of the sale, the insider directly owned 181,868 shares in the company, valued at $9,371,658.04. This trade represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joshua Allen Franks sold 3,505 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $51.53, for a total transaction of $180,612.65. Following the completion of the sale, the senior vice president directly owned 150,027 shares in the company, valued at $7,730,891.31. This trade represents a 2.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 278,988 shares of company stock worth $18,354,580. 3.50% of the stock is currently owned by corporate insiders.

Institutional Trading of e.l.f. Beauty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELF. Handelsbanken Fonder AB boosted its position in shares of e.l.f. Beauty by 27.8% during the second quarter. Handelsbanken Fonder AB now owns 21,600 shares of the company’s stock worth $1,598,000 after buying an additional 4,700 shares during the period. White Wing Wealth Management grew its position in e.l.f. Beauty by 17.2% in the 2nd quarter. White Wing Wealth Management now owns 9,476 shares of the company’s stock valued at $701,000 after acquiring an additional 1,391 shares in the last quarter. Sarasin & Partners LLP increased its stake in e.l.f. Beauty by 10.5% during the second quarter. Sarasin & Partners LLP now owns 60,544 shares of the company’s stock worth $4,480,000 after purchasing an additional 5,757 shares during the period. Cim Investment Management Inc. purchased a new stake in e.l.f. Beauty during the first quarter worth about $366,000. Finally, Bank of America Corp DE boosted its stake in shares of e.l.f. Beauty by 45.9% in the first quarter. Bank of America Corp DE now owns 418,431 shares of the company’s stock valued at $25,361,000 after purchasing an additional 131,572 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

About e.l.f. Beauty

e.l.f. Beauty (NYSE: ELF) is an American cosmetics company known for offering an extensive range of affordable, trend-driven makeup and skincare products. The company’s portfolio spans foundations, lipsticks, mascaras, brushes, serums, masks and other beauty essentials, all positioned at accessible price points. e.l.f. Beauty maintains a direct-to-consumer platform through its e-commerce site and engages in widespread retail partnerships with major chains such as Target, Walmart, Ulta Beauty and Amazon.

Founded in 2004 and headquartered in Oakland, California, e.l.f.