#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, together with its subsidiaries, provides cosmetic and skin care products under the e.l.f. Cosmetics, e.l.f. Skin, Well People, and Keys Soulcare brand names worldwide. The company offers eye, lip, face, face, paw, and skin care products. It sells its products through national and international retailers and direct-to-consumer channels, which include e-commerce platforms in the United States, and internationally primarily through distributors.
Read More - Current Price
- $122.85
- Consensus Rating
- Buy
- Ratings Breakdown
- 14 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $173.53 (41.3% Upside)
