e.l.f. Beauty, Inc. (NYSE:ELF) posted better-than-expected first-quarter results after Wednesday’s closing bell.
e.l.f. Beauty reported quarterly earnings of 89 cents per share, which beat the Street estimate of 84 cents, according to data from Benzinga Pro. Quarterly revenue came in at $353.73 million, which beat the analyst consensus estimate of $349.43 million and is up from revenue of $324.47 million from the same period last year.
"Our strong Q1 results, including 210 basis points of market share gains, are a continuation of the consistent, category-leading growth we've delivered over the past 26 quarters," said Tarang Amin, e.l.f. Beauty's CEO. "The combination of our value proposition, powerhouse innovation and disruptive marketing engine continue to fuel our results. We remain excited by the significant whitespace we see ahead as we strive to make the best of beauty accessible for all."
e.l.f. Beauty shares dipped 9.5% to $99.94 on Thursday.
These analysts made changes to their price targets on e.l.f. Beauty following earnings announcement.
- Morgan Stanley analyst Dara Mohsenian maintained e.l.f. Beauty with an Equal-Weight rating and raised the price target from $105 to $114.
- Goldman Sachs analyst Patty Kanada maintained e.l.f. Beauty with a Buy and raised the price target from $120 to $137.
- UBS analyst Peter Grom maintained e.l.f. Beauty with a Neutral and lowered the price target from $120 to $112.
Considering buying ELF stock? Here’s what analysts think:
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