e.l.f. Beauty price target raised to $223 from $220 at DA Davidson

DA Davidson analyst Linda Bolton Weiser raised the firm’s price target on e.l.f. Beauty to $223 from $220 and keeps a Buy rating on the shares after the company reported a fiscal Q1 beat and raised both sales and EBITDA guidance for FY25 by more than the beat. While noting that the stock was down about 10% after hours because Q2 guidance comments pointed to EBITDA below consensus, the firm believes e.l.f. “continues to have a long runway of growth for years to come” and thinks the “beat-and-raise trend can continue, albeit with smaller magnitudes.”