J.P. Morgan Believes e.l.f. Beauty (ELF) Won’t Stop Here

In a report released yesterday, Andrea Faria Teixeira from J.P. Morgan maintained a Buy rating on e.l.f. Beauty (ELFResearch Report), with a price target of $39.00. The company’s shares closed last Thursday at $36.18, close to its 52-week high of $36.74.

According to TipRanks.com, Teixeira is a 1-star analyst with an average return of -1.6% and a 56.6% success rate. Teixeira covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies, Constellation Brands, and Energizer Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for e.l.f. Beauty with a $38.44 average price target, implying a 5.5% upside from current levels. In a report issued on July 28, Jefferies also maintained a Buy rating on the stock with a $38.00 price target.

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Based on e.l.f. Beauty’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $105 million and net profit of $1.56 million. In comparison, last year the company earned revenue of $92.67 million and had a GAAP net loss of $24K.

Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ELF in relation to earlier this year.

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e.l.f. Beauty, Inc. is a holding company, which engages in the provision of cosmetic and skin-care product. It operates through the U.S and International geographical segments. The company focuses on the e-commerce, national retailers, and international business channels. Its product portfolio includes eyes, lips, face, kits, tools, and skin care categories. The company was founded in 2004 and is headquartered in Oakland, CA.

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