e.l.f. Beauty ( (ELF) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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e.l.f. Beauty’s stock experienced a notable upward movement after Morgan Stanley upgraded its rating to Overweight, highlighting the stock’s appealing valuation following a recent dip. The analysts emphasized the company’s strong growth prospects, especially in international markets, and its increasing U.S. market share. They noted that the current market may be undervaluing the company’s revenue potential both in the short and long term. In addition, Piper Sandler and Truist Financial expressed their optimism by raising their price targets, bolstered by positive U.S. scanner data growth and encouraging forecasts for upcoming quarters.
More about e.l.f. Beauty
YTD Price Performance: 1.54%
Average Trading Volume: 2,268,934
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $7.04B
For further insights into ELF stock on TipRanks’ Stock Analysis page.
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