E.L.F. Beauty: Outperforming Market With Outsized Share Gains, Morgan Stanley Raises Expectations
Portfolio Pulse from Shivani Kumaresan
Morgan Stanley analyst Dara Mohsenian reiterated an Overweight rating on E.L.F. Beauty, Inc. (NYSE:ELF) and raised the price target from $118 to $162. The company posted a 17% revenue, 20% gross profit, and 71% operating profit beat vs. consensus in 1QFY23. ELF continues to gain outsized market share, with shares trading higher by 16.4% at $135.63.
August 04, 2023 | 11:58 am
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POSITIVE IMPACT
E.L.F. Beauty's stock is likely to rise in the short term due to the raised price target by Morgan Stanley and impressive 1QFY23 results.
The raised price target by Morgan Stanley indicates a positive outlook for the company. Additionally, the company's impressive 1QFY23 results, including a 17% revenue beat, 20% gross profit beat, and 71% operating profit beat vs. consensus, are likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100