In a report released yesterday, Rupesh Parikh from Oppenheimer maintained a Hold rating on elf Beauty Inc (ELF). The company’s shares closed yesterday at $11.10, close to its 52-week low of $9.30.
Parikh said:
“We overall view the Q3 results and bottom-line performance as ahead of expectations. $0.17 topped Street forecasts of $0.08. Management also lifted bottom-line EPS expectations to $0.59-$0.61 from $0.56-$0.61 previously. Better expense controls helped to drive upside, even with a double-digit sales decline. In addition, management commentary suggests comfort in managing through tariff impacts, which has represented one of our concerns. We continue to watch the ELF turn closely, and await traction with key efforts in the discount channel which are key, in our view, to drive shares higher from here. For now, ULTA and EL remain our top picks in beauty. ELF remains on our radar.”
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 16.3% and a 63.8% success rate. Parikh covers the Services sector, focusing on stocks such as United Natural Foods, Wal-Mart Stores Inc, and Sprouts Farmers.
Currently, the analyst consensus on elf Beauty Inc is a Hold with an average price target of $12.73.
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Based on elf Beauty Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $1.25 million. In comparison, last year the company had a net profit of $5.87 million.
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ELF in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
e.l.f. Beauty, Inc. is a holding company, which engages in cosmetics and skin-care product. It operates through U.S and International geographical segments. The company sells cosmetics products through retail customers, e.l.f. stores and e-commerce channels. The company was founded on December 20, 2013 and is headquartered in Oakland, CA.
