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Stockchase Insights
e.l.f. Beauty
ELF-N
HOLD
Aug 28, 2024
$153.320
Stock price when the opinion was issued
Consumer Products
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BUY
Company enjoying tailwinds with demand for beauty products. Viral marketing and middle of the road pricing very good for business. Management increasing earnings estimates. Consensus is for $140 stock price. Seeing meaningful upside in stock. Demand for beauty products not slowing, even if recession occurs.
Consumer Products
ELF is trading at 42.7x Forward P/E, and the growth over the next few years is expected to be solid, above 15%. In the last five years, ELF’s valuation has ranged from a 26.5x forward P/E to as high as 52.7x. We think the current valuation is fair, but we would not consider it to be an aggressive buy yet.
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