e.l.f. Beauty (NYSE:ELF) Shares Gap Up – What’s Next?

e.l.f. Beauty, Inc. (NYSE:ELF) shares gapped up prior to trading on Friday . The stock had previously closed at $62.97, but opened at $66.13. e.l.f. Beauty shares last traded at $66.44, with a volume of 516,912 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ELF shares. The Goldman Sachs Group dropped their price objective on e.l.f. Beauty from $142.00 to $124.00 and set a “buy” rating for the company in a research note on Friday, February 21st. B. Riley reissued a “buy” rating and set a $90.00 price objective (down previously from $150.00) on shares of e.l.f. Beauty in a research note on Friday, February 7th. Canaccord Genuity Group dropped their price objective on e.l.f. Beauty from $174.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on e.l.f. Beauty in a research note on Thursday, December 12th. They set a “hold” rating and a $133.00 price objective for the company. Finally, Piper Sandler dropped their price objective on e.l.f. Beauty from $167.00 to $131.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.94.

e.l.f. Beauty Stock Performance

The business has a fifty day simple moving average of $92.02 and a 200-day simple moving average of $110.86. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. The firm has a market cap of $3.86 billion, a P/E ratio of 40.49, a P/E/G ratio of 6.76 and a beta of 1.60.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.35). e.l.f. Beauty had a net margin of 7.55% and a return on equity of 16.88%. On average, sell-side analysts predict that e.l.f. Beauty, Inc. will post 2.38 EPS for the current fiscal year.

Insider Activity

In related news, Director Maureen C. Watson sold 4,000 shares of e.l.f. Beauty stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $67.39, for a total value of $269,560.00. Following the completion of the sale, the director now directly owns 1,888 shares in the company, valued at approximately $127,232.32. This trade represents a 67.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.50% of the company’s stock.

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

Large investors have recently bought and sold shares of the business. Nemes Rush Group LLC bought a new stake in e.l.f. Beauty in the 4th quarter worth about $27,000. Wilmington Savings Fund Society FSB purchased a new position in e.l.f. Beauty in the third quarter worth about $25,000. Orion Capital Management LLC purchased a new position in e.l.f. Beauty in the fourth quarter worth about $30,000. Promus Capital LLC purchased a new position in e.l.f. Beauty in the fourth quarter worth about $31,000. Finally, Kestra Investment Management LLC purchased a new position in e.l.f. Beauty in the fourth quarter worth about $32,000. 92.44% of the stock is currently owned by institutional investors.

About e.l.f. Beauty

e.l.f. Beauty, Inc is a holding company, which engages in the provision of inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. The company focuses on the e-commerce, national retailers and international business channels. Its brands include elf, elf skin, WELL People and KEYS soulcare.