The Goldman Sachs Group Issues Pessimistic Forecast for e.l.f. Beauty (NYSE:ELF) Stock Price

e.l.f. Beauty (NYSE:ELF) had its price target cut by stock analysts at The Goldman Sachs Group from $142.00 to $124.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 63.06% from the company’s previous close.

A number of other brokerages have also recently commented on ELF. JPMorgan Chase & Co. lifted their price objective on shares of e.l.f. Beauty from $154.00 to $163.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Morgan Stanley reaffirmed an “equal weight” rating and set a $70.00 price target (down from $153.00) on shares of e.l.f. Beauty in a research note on Friday, February 7th. Truist Financial lifted their price target on shares of e.l.f. Beauty from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler dropped their price target on shares of 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. Finally, Raymond James dropped their price target on shares of e.l.f. Beauty from $175.00 to $120.00 and set a “strong-buy” rating for the company in a research note on Friday, February 7th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, e.l.f. Beauty has a consensus rating of “Moderate Buy” and an average price target of $132.94.

e.l.f. Beauty Price Performance

ELF traded up $4.94 during trading on Friday, hitting $76.05. 1,280,782 shares of the company traded hands, compared to its average volume of 3,230,340. e.l.f. Beauty has a 1 year low of $63.50 and a 1 year high of $221.83. The company has a market cap of $4.29 billion, a PE ratio of 45.11, a P/E/G ratio of 6.95 and a beta of 1.47. The stock’s 50-day simple moving average is $111.49 and its two-hundred day simple moving average is $121.74. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.20.

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

Insider Activity

In other news, Director Maureen C. Watson sold 785 shares of e.l.f. Beauty stock in a transaction that occurred on Friday, November 29th. The shares were 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. The trade was a 29.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tarang Amin sold 890 shares of e.l.f. Beauty stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $137.60, for a total transaction of $122,464.00. Following the completion of the transaction, the chief executive officer now directly owns 99,699 shares in the company, valued at approximately $13,718,582.40. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,205 shares of company stock worth $297,442. 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 the company. Baillie Gifford & Co. lifted its position in e.l.f. Beauty by 51.0% during the 4th quarter. Baillie Gifford & Co. now owns 8,009,434 shares of the company’s stock worth $1,005,584,000 after acquiring an additional 2,703,742 shares during the period. Vanguard Group Inc. lifted its position in e.l.f. Beauty by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 5,497,208 shares of the company’s stock worth $690,174,000 after acquiring an additional 68,103 shares during the period. William Blair Investment Management LLC lifted its position in e.l.f. Beauty by 40.9% during the 4th quarter. William Blair Investment Management LLC now owns 2,305,349 shares of the company’s stock worth $289,437,000 after acquiring an additional 669,321 shares during the period. Champlain Investment Partners LLC lifted its position in e.l.f. Beauty by 99.7% during the 4th quarter. Champlain Investment Partners LLC now owns 2,226,451 shares of the company’s stock worth $279,531,000 after acquiring an additional 1,111,550 shares during the period. Finally, Clearbridge Investments LLC lifted its position in e.l.f. Beauty by 17.5% during the 4th quarter. Clearbridge Investments LLC now owns 1,772,528 shares of the company’s stock worth $222,541,000 after acquiring an additional 264,296 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

e.l.f. Beauty Company Profile

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.