William Blair analyst Jon Andersen has maintained their bullish stance on ELF stock, giving a Buy rating on October 31.
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Jon Andersen has given his Buy rating due to a combination of factors that highlight the potential for e.l.f. Beauty to grow despite a recent challenging quarter. The company’s decision to temporarily halt shipments to retailers who were slow to implement a price increase led to a slight decline in organic sales, but this is not indicative of a lack of consumer interest. Instead, the underlying demand remains strong, and the company’s strategic pricing and product mix have positively impacted its gross margin.
Furthermore, Andersen believes in e.l.f. Beauty’s unique value proposition and its robust go-to-market capabilities, which are expected to support its ambition of becoming a global leader in the beauty industry. Despite the initial fiscal 2026 guidance being lower than anticipated, the company’s enterprise value relative to its projected EBITDA suggests a promising valuation. These elements combined form the basis for Andersen’s optimistic outlook and Buy rating on e.l.f. Beauty’s stock.
In another report released on October 31, TR | OpenAI – 4o also upgraded the stock to a Buy with a $137.00 price target.