Piper Sandler Cuts e.l.f. Beauty (NYSE:ELF) Price Target to $131.00

e.l.f. Beauty (NYSE:ELF) had its target price lowered by equities researchers at Piper Sandler from $167.00 to $131.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 49.97% from the company’s previous close.

Several other analysts have also issued reports on the stock. Canaccord Genuity Group reduced their price target on shares of e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. UBS Group lifted their price target on e.l.f. Beauty from $156.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft began coverage on e.l.f. Beauty in a research report on Thursday, December 12th. They set a “hold” rating and a $133.00 price objective for the company. B. Riley decreased their target price on e.l.f. Beauty from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group initiated coverage on shares of e.l.f. Beauty in a report on Friday, December 13th. They issued a “buy” rating and a $165.00 target price for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, e.l.f. Beauty presently has an average rating of “Moderate Buy” and an average target price of $166.35.

e.l.f. Beauty Price Performance

Shares of ELF traded down $1.09 during trading hours on Wednesday, hitting $87.35. 1,736,629 shares of the company were exchanged, compared to its average volume of 1,964,715. The company has a quick ratio of 1.01, a current ratio of 1.78 and a debt-to-equity ratio of 0.22. e.l.f. Beauty has a fifty-two week low of $85.41 and a fifty-two week high of $221.83. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 47.15, a P/E/G ratio of 1.74 and a beta of 1.47. The firm’s fifty day moving average is $125.24 and its 200 day moving average is $129.18.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.34. The firm had revenue of $301.10 million for the quarter, compared to the consensus estimate of $289.43 million. e.l.f. Beauty had a net margin of 8.87% and a return on equity of 19.34%. The business’s revenue for the quarter was up 39.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 earnings per share. On average, equities analysts anticipate that e.l.f. Beauty will post 2.8 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Scott Milsten sold 530 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $137.60, for a total transaction of $72,928.00. Following the completion of the sale, the insider now directly owns 68,853 shares in the company, valued at $9,474,172.80. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Maureen C. Watson sold 785 shares of e.l.f. Beauty stock in a transaction on Friday, November 29th. The stock was sold at an average price of $130.00, for a total transaction of $102,050.00. Following the transaction, the director now directly owns 1,888 shares of the company’s stock, valued at $245,440. This represents a 29.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,205 shares of company stock valued at $297,442. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. boosted its position in shares of 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 valued at $1,005,584,000 after purchasing an additional 2,703,742 shares in the last quarter. State Street Corp grew its position in shares of e.l.f. Beauty by 3.7% during the 3rd quarter. State Street Corp now owns 1,665,203 shares of the company’s stock worth $181,557,000 after buying an additional 59,248 shares during the period. FMR LLC increased its stake in shares of e.l.f. Beauty by 5.5% in the 3rd quarter. FMR LLC now owns 1,186,766 shares of the company’s stock valued at $129,393,000 after acquiring an additional 61,524 shares in the last quarter. Champlain Investment Partners LLC acquired a new position in shares of e.l.f. Beauty during the 3rd quarter valued at $121,558,000. Finally, Geode Capital Management LLC boosted its position in shares of e.l.f. Beauty by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 955,064 shares of the company’s stock worth $104,158,000 after purchasing an additional 24,778 shares in the last quarter. 92.44% of the stock is 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.