Piper Sandler Issues Pessimistic Forecast for e.l.f. Beauty (NYSE:ELF) Stock Price

e.l.f. Beauty (NYSE:ELF) had its target price cut by stock analysts at Piper Sandler from $85.00 to $60.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential upside of 9.19% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen raised e.l.f. Beauty from a “sell” rating to a “hold” rating in a report on Saturday, January 24th. UBS Group reduced their price target on e.l.f. Beauty from $102.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Canaccord Genuity Group decreased their price target on e.l.f. Beauty from $121.00 to $100.00 and set a “buy” rating for the company in a report on Monday. Morgan Stanley restated an “equal weight” rating and issued a $67.00 price objective (down from $80.00) on shares of e.l.f. Beauty in a research report on Friday, May 1st. Finally, Robert W. Baird dropped their price objective on shares of e.l.f. Beauty from $115.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.06.

e.l.f. Beauty Price Performance

NYSE:ELF opened at $54.95 on Tuesday. The firm’s fifty day moving average is $65.76 and its two-hundred day moving average is $77.48. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 3.47 and a beta of 1.71. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.89 and a current ratio of 2.76. e.l.f. Beauty has a one year low of $52.78 and a one year high of $150.99.

Insider Transactions at e.l.f. Beauty

In other e.l.f. Beauty news, insider Mandy J. Fields sold 23,656 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $63.66, for a total value of $1,505,940.96. Following the sale, the insider directly owned 77,437 shares of the company’s stock, valued at approximately $4,929,639.42. This trade represents a 23.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott Milsten sold 23,797 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $63.66, for a total value of $1,514,917.02. Following the completion of the sale, the insider owned 114,940 shares of the company’s stock, valued at $7,317,080.40. This trade represents a 17.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 210,013 shares of company stock worth $13,315,490 over the last quarter. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On e.l.f. Beauty

Institutional investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. increased its holdings in e.l.f. Beauty by 29.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 384 shares of the company’s stock worth $52,000 after acquiring an additional 87 shares in the last quarter. State of Wyoming lifted its holdings in e.l.f. Beauty by 7.1% during the third quarter. State of Wyoming now owns 1,595 shares of the company’s stock valued at $211,000 after purchasing an additional 106 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of e.l.f. Beauty by 58.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 317 shares of the company’s stock valued at $39,000 after purchasing an additional 117 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of e.l.f. Beauty by 97.0% in the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the company’s stock valued at $32,000 after purchasing an additional 128 shares during the period. Finally, Horizon Investments LLC increased its stake in shares of e.l.f. Beauty by 13.4% during the fourth quarter. Horizon Investments LLC now owns 1,089 shares of the company’s stock worth $83,000 after purchasing an additional 129 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

e.l.f. Beauty Company Profile

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.