e.l.f. Beauty Gets Price Target Hikes By Analysts Following Strong Q4 Results

e.l.f. Beauty, Inc. ELF reported better-than-expected fourth-quarter financial results and issued FY24 adjusted guidance above estimates.

e.l.f. Beauty posted adjusted earnings of 42 cents per share, beating market estimates of 20 cents per share. The company’s sales came in at $187.36 million, versus expectations of $156.12 million.

e.l.f. Beauty shares jumped 13.4% to $98.00 in today’s pre-market trading session.

These analysts made changes to their price targets on e.l.f. Beauty following earnings announcement.

• Raymond James boosted the price target on e.l.f. Beauty from $105 to $115. Raymond James analyst Olivia Tong maintained an Outperform rating.
• Morgan Stanley raised the price target on e.l.f. Beauty from $94 to $110. Morgan Stanley analyst Dara Mohsenian maintained an Overweight rating.
• TD Cowen increased e.l.f. Beauty price target from $70 to $105. TD Cowen analyst Oliver Chen maintained a Market Perform rating.
• DA Davidson raised e.l.f. Beauty price target from $110 to $121. DA Davidson analyst Linda Bolton Weiser maintained a Buy rating.
• Piper Sandler increased e.l.f. Beauty price target from $105 to $114. Piper Sandler analyst Korinne Wolfmeyer maintained the stock with an Overweight.

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