William Blair analyst Jon Andersen has maintained their bullish stance on ELF stock, giving a Buy rating on May 23.
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Jon Andersen has given his Buy rating due to a combination of factors, including e.l.f. Beauty’s impressive fiscal performance and strategic growth initiatives. The company concluded fiscal 2025 with sales and EBITDA surpassing expectations, demonstrating strong consumption trends and effective marketing strategies.
Furthermore, the planned acquisition of rhode, a rapidly growing lifestyle beauty brand, is seen as strategically and financially beneficial. This acquisition is expected to enhance e.l.f. Beauty’s sales growth, margins, and earnings. Additionally, e.l.f. Beauty is positioned to expand its market share in the global beauty industry, with potential to reach $3 billion in retail sales by 2030. Overall, Andersen views e.l.f. Beauty as a promising long-term investment in the midcap staples sector.
In another report released on May 23, Piper Sandler also maintained a Buy rating on the stock with a $81.00 price target.