e.l.f. Beauty (NYSE:ELF) Issues FY 2024 Earnings Guidance

e.l.f. Beauty (NYSE:ELF – Get Rating) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of $1.73-$1.76 for the period, compared to the consensus EPS estimate of $1.64. The company issued revenue guidance of $705.00 million-$720.00 million, compared to the consensus revenue estimate of $637.73 million.

e.l.f. Beauty Stock Performance

ELF stock opened at $104.15 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.08 and a current ratio of 3.00. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 93.83, a PEG ratio of 2.13 and a beta of 1.50. e.l.f. Beauty has a 1 year low of $22.97 and a 1 year high of $104.31. The stock’s fifty day moving average is $86.72 and its two-hundred day moving average is $69.50.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ELF shares. Canaccord Genuity Group raised their price target on e.l.f. Beauty from $63.00 to $78.00 and gave the company a buy rating in a report on Thursday, February 2nd. Stifel Nicolaus raised their price target on e.l.f. Beauty from $83.00 to $87.00 in a report on Thursday. Piper Sandler raised their price target on e.l.f. Beauty from $105.00 to $114.00 in a report on Thursday. DA Davidson raised their price target on e.l.f. Beauty from $91.00 to $110.00 and gave the company a buy rating in a report on Wednesday, April 19th. Finally, StockNews.com started coverage on e.l.f. Beauty in a report on Thursday, May 18th. They set a hold rating on the stock. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $87.50.

Insider Buying and Selling

In related news, insider Mandy J. Fields sold 20,940 shares of e.l.f. Beauty stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $94.77, for a total value of $1,984,483.80. Following the transaction, the insider now owns 121,786 shares of the company’s stock, valued at approximately $11,541,659.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Mandy J. Fields sold 20,940 shares of e.l.f. Beauty stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $94.77, for a total value of $1,984,483.80. Following the transaction, the insider now owns 121,786 shares of the company’s stock, valued at approximately $11,541,659.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tarang Amin sold 39,740 shares of e.l.f. Beauty stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $88.47, for a total value of $3,515,797.80. Following the completion of the transaction, the chief executive officer now directly owns 286,964 shares in the company, valued at approximately $25,387,705.08. The disclosure for this sale can be found here. Insiders have sold a total of 252,162 shares of company stock valued at $19,624,844 over the last three months. Company insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On e.l.f. Beauty

A number of institutional investors have recently bought and sold shares of the stock. Metropolitan Life Insurance Co NY boosted its position in e.l.f. Beauty by 5.3% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 2,984 shares of the company’s stock worth $165,000 after acquiring an additional 151 shares during the period. Franklin Resources Inc. boosted its position in e.l.f. Beauty by 6.2% during the 1st quarter. Franklin Resources Inc. now owns 4,777 shares of the company’s stock worth $393,000 after acquiring an additional 277 shares during the period. Quarry LP boosted its position in e.l.f. Beauty by 135.1% during the 1st quarter. Quarry LP now owns 576 shares of the company’s stock worth $47,000 after acquiring an additional 331 shares during the period. Dark Forest Capital Management LP acquired a new stake in e.l.f. Beauty during the 1st quarter worth about $27,000. Finally, Advisor Group Holdings Inc. boosted its position in e.l.f. Beauty by 7.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 6,765 shares of the company’s stock worth $174,000 after acquiring an additional 476 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

About e.l.f. Beauty

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e.l.f. Beauty, Inc operates as a holding company, which engages in the provision of cosmetic 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. The company was founded in 2004 and is headquartered in Oakland, CA.