Susan Anderson, an analyst from Canaccord Genuity, maintained the Buy rating on e.l.f. Beauty (ELF – Research Report). The associated price target remains the same with $105.00.
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Susan Anderson’s rating is based on e.l.f. Beauty’s strong market position and growth potential despite current challenges. The company’s management team has successfully differentiated the brand through innovation, market share capture, and customer loyalty. Although recent earnings showed some weaknesses due to high year-over-year comparisons and underperforming new products, management is optimistic about upcoming improvements driven by shelf space updates and increased marketing efforts.
e.l.f. Beauty also holds significant growth opportunities, particularly in international markets and skincare. The company’s stock is considered undervalued compared to peers, trading at a lower earnings multiple, and offers better growth prospects with solid margins. Additionally, e.l.f. Beauty’s competitive advantages, including a passionate ownership, value proposition, innovative approach, marketing capabilities, and productivity model, contribute to its strong performance and market leadership.
Anderson covers the Consumer Cyclical sector, focusing on stocks such as e.l.f. Beauty, The Estée Lauder Companies, and Ulta Beauty. According to TipRanks, Anderson has an average return of 16.3% and a 42.48% success rate on recommended stocks.
In another report released on February 7, Raymond James also maintained a Buy rating on the stock with a $120.00 price target.