Analyst Bill Chappell from Truist has revised the price target for Elf Beauty (ELF, Financial), reducing it from $100 to $75, while maintaining a Buy rating for the stock. This adjustment comes as the company prepares to release its quarterly earnings results.
The decision to lower the price target reflects the current market dynamics and a notable contraction in valuation multiples across the broader industry. Despite these adjustments, the analyst's continued Buy rating indicates confidence in the company's long-term potential.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 15 analysts, the average target price for e.l.f. Beauty Inc (ELF, Financial) is $86.88 with a high estimate of $120.00 and a low estimate of $59.00. The average target implies an upside of 44.04% from the current price of $60.32. More detailed estimate data can be found on the e.l.f. Beauty Inc (ELF) Forecast page.
Based on the consensus recommendation from 18 brokerage firms, e.l.f. Beauty Inc's (ELF, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for e.l.f. Beauty Inc (ELF, Financial) in one year is $201.84, suggesting a upside of 234.64% from the current price of $60.315. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the e.l.f. Beauty Inc (ELF) Summary page.
