#3 - e.l.f. Beauty (NYSE:ELF)
The skincare and cosmetics industry is showing why it’s an evergreen sector for investors. For example, Ulta Beauty Inc. (NYSE: ULTA) stock is down 20% this year but has hit its all-time high twice in the last 52 weeks. But with a market cap of around $17.5 billion, you won’t find ULTA stock in the Russell 2000.
You will, however, find e.l.f. Beauty Inc. (NYSE: ELF) in the Russell 2000. The company’s brand positioning focuses on high-quality products at affordable prices. The company’s authenticity is popular with millennial and Gen-Z consumers.
If you had just $1,000 in the stock five years ago, that would be worth over $10,400 as of July 24, 2024. However, ELF stock is up 20% despite having a forward P/E ratio of 61x. That leads to questions of whether the stock can maintain its momentum. Analysts certainly believe it can—the e.l.f. Beauty analyst ratings on MarketBeat give the stock a consensus price target of $210, which is 20% higher than its current level.
About e.l.f. Beauty
e.l.f. Beauty, Inc is a holding company, which engages in the provision of inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. The company focuses on the e-commerce, national retailers and international business channels. Its brands include elf, elf skin, WELL People and KEYS soulcare.
Read More - Current Price
- $125.39
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 15 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $171.82 (37.0% Upside)
