e.l.f. Beauty Price Target Raised to $150 by Canaccord Genuity

Canaccord Genuity has raised e.l.f. Beauty's (ELF) price target from $114 to $150, a 31.58% increase, and maintained its "Buy" rating. The average one-year target price for ELF is $126.65, implying an 8.69% upside from the current price of $116.53. The average brokerage recommendation is 1.9, indicating "Outperform" status. The estimated GF Value for ELF in one year is $233.03, suggesting a 99.97% upside from the current price.

Canaccord Genuity has raised its price target for e.l.f. Beauty (ELF) from $114 to $150, a 31.58% increase, while maintaining its "Buy" rating. This move underscores the positive outlook on the company's prospects. The average one-year target price for ELF is $126.65, implying an 8.69% upside from the current price of $116.53. The average brokerage recommendation is 1.9, indicating an "Outperform" status. Furthermore, the estimated GF Value for ELF in one year is $233.03, suggesting a 99.97% upside from the current price.

The decision by Canaccord Genuity is in line with the broader analyst consensus. According to TipRanks [1], 17 out of 17 analysts have given ELF a "Strong Buy" rating over the past three months, with an average price target of $124.94, representing an 8.30% upside from the last price of $115.37. The highest price target is $150.00, while the lowest is $84.00.

Key factors driving the positive outlook include e.l.f. Beauty's strong financial performance and positive earnings call insights. The company's strategic acquisition of Rhode and ongoing market expansion are also seen as positive developments. However, tariff-related uncertainties and overvaluation concerns temper the overall score.

The earnings forecast for the next quarter is $0.84, with a range of $0.65 to $1.01, and the sales forecast is $355.26M, with a range of $349.80M to $363.41M. ELF has consistently beaten its earnings and sales estimates over the past 12 months, outperforming its overall industry.

In conclusion, the upgrade by Canaccord Genuity reflects the strong sentiment among analysts about ELF's prospects. However, investors should remain vigilant about potential risks, such as tariff-related uncertainties and overvaluation concerns.

References:
[1] https://www.tipranks.com/stocks/elf/forecast