e.l.f. Beauty (NYSE:ELF) Stock Price Up 9.5% – Here’s What Happened

e.l.f. Beauty (NYSE:ELF)’s share price rose 9.5% on Wednesday . The stock traded as high as $58.52 and last traded at $59.2830. Approximately 812,620 shares were traded during trading, a decline of 69% from the average daily volume of 2,591,899 shares. The stock had previously closed at $54.13.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. UBS Group set a $80.00 target price on shares of e.l.f. Beauty in a research report on Thursday, May 21st. Morgan Stanley reduced their target price on shares of e.l.f. Beauty from $67.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 21st. Citigroup reduced their target price on shares of e.l.f. Beauty from $115.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. TD Cowen reduced their target price on shares of e.l.f. Beauty from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, February 9th. Finally, Piper Sandler reduced their target price on shares of e.l.f. Beauty from $60.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, e.l.f. Beauty has a consensus rating of “Moderate Buy” and a consensus target price of $82.75.

e.l.f. Beauty Price Performance

The company’s fifty day moving average is $62.77 and its two-hundred day moving average is $74.57. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 125.94, a price-to-earnings-growth ratio of 2.14 and a beta of 1.71. The company has a quick ratio of 1.69, a current ratio of 2.35 and a debt-to-equity ratio of 0.72.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings data on Wednesday, May 20th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.03. e.l.f. Beauty had a net margin of 1.61% and a return on equity of 11.02%. The business had revenue of $449.29 million for the quarter, compared to analyst estimates of $423.06 million. During the same period in the prior year, the business posted $0.78 earnings per share. e.l.f. Beauty’s revenue was up 35.1% compared to the same quarter last year. e.l.f. Beauty has set its FY 2027 guidance at 3.270-3.320 EPS. Equities research analysts anticipate that e.l.f. Beauty will post 2.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Joshua Allen Franks sold 23,535 shares of the 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 $1,498,238.10. Following the transaction, the senior vice president directly owned 118,071 shares in the company, valued at $7,516,399.86. This represents a 16.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kory Marchisotto sold 23,796 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $63.66, for a total transaction of $1,514,853.36. Following the completion of the transaction, the insider owned 152,417 shares in the company, valued at $9,702,866.22. This represents a 13.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 210,013 shares of company stock valued at $13,315,490 over the last three months. 3.90% of the stock is owned by insiders.

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

Large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its holdings in e.l.f. Beauty by 97.0% in the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the company’s stock worth $32,000 after purchasing an additional 128 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in 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 worth $39,000 after purchasing an additional 117 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of e.l.f. Beauty in the 4th quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of 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 valued at $52,000 after buying an additional 87 shares in the last quarter. Finally, Hilton Head Capital Partners LLC acquired a new stake in e.l.f. Beauty during the 4th quarter worth $32,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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.