Raymond James raises e.l.f. Beauty stock price target on strong results
Raymond James raised its price target for e.l.f. Beauty (NYSE:ELF) to $132, citing strong Q2 results. Sales rose 35% YoY, with EPS at $1.21, exceeding estimates. The company raised its full-year EPS outlook to $3.82-$3.86. ELF stock is up 91% over six months.
How this was made
The 30-second read
Why it matters
The earnings beat and raised guidance support a higher valuation outlook.
Market read
Strong earnings and analyst upgrade could drive ELF higher in the near term.
What to watch
Potential supply chain constraints in Europe could temper growth.
Background
e.l.f. Beauty reported Q2 results that beat expectations, prompting analyst upgrades.
Ticker impact
Raymond James raised its price target on e.l.f. Beauty to $132 and highlighted Q2 earnings beat and raised full-year EPS outlook.
likely upward pressure as investors price in higher earnings and target multiples.
The price target increase and EPS guidance raise indicate better profitability, prompting buying interest.
Market effects
Positive signal for the cosmetics and personal care sector, may lift peers.
U.S. consumer discretionary stocks could see modest gains.
Limited to U.S. markets; no broader macro effect.
Counterpoint
If the price target is already baked in, the stock may face short-term profit taking.
Key entities
- AnalystRaymond James
Raised price target and upgraded rating on ELF.
- Companye.l.f. Beauty
Reported strong Q2 earnings and raised full-year outlook.


