JPMorgan has increased its price target for Elf Beauty (ELF) to $132 from $123, maintaining an Overweight rating. The firm expects a challenging quarter for most household and personal care companies, but remains positive on Elf Beauty's potential performance. Analysts' average target price for ELF is $128.58, with a high estimate of $150 and a low estimate of $105. The average target implies an upside of 7.85% from the current price of $119.22.
In a recent update, JPMorgan has elevated its price target for e.l.f. Beauty Inc (ELF) to $132 from $123, while maintaining an Overweight rating on the company's shares. This adjustment comes ahead of the upcoming quarterly earnings report, reflecting the firm's positive outlook on ELF's potential performance despite an anticipated challenging quarter for most household and personal care companies [1].
Analysts' average target price for ELF is $128.58, with a high estimate of $150 and a low estimate of $105. This average target implies an upside of 7.85% from the current price of $119.22 [1]. The consensus recommendation from 16 brokerage firms is currently 1.9, indicating an "Outperform" status [1].
GuruFocus estimates the GF Value for ELF at $233.03 in one year, suggesting an upside of 95.46% from the current price of $119.22 [1]. The GF Value is calculated based on historical multiples and past business growth, providing an estimate of the fair value the stock should trade at.
ELF closed at $117.66 in the latest trading session, marking a +1.39% move from the prior day. The stock's change was more than the S&P 500's daily gain of 0.78% [3]. The upcoming earnings disclosure will be closely watched, with the company's projected EPS at $0.84, signifying a 23.64% drop compared to the same quarter of the previous year [3].
Investors should also keep an eye on any recent revisions to analyst forecasts for ELF. These revisions often mirror the shifting dynamics of short-term business patterns and can indicate a favorable outlook on the company's health and profitability [3].
References:
[1] https://www.gurufocus.com/news/3004784/elf-jpmorgan-elevates-price-target-ahead-of-earnings-elf-stock-news
[3] https://www.nasdaq.com/articles/elf-beauty-elf-surpasses-market-returns-some-facts-worth-knowing
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