The Goldman Sachs Group Issues Pessimistic Forecast for e.l.f. Beauty (NYSE:ELF) Stock Price

e.l.f. Beauty (NYSE:ELF) had its price target lowered by equities research analysts at The Goldman Sachs Group from $142.00 to $124.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 63.06% from the company’s previous close.

Several other equities analysts also recently commented on the stock. Canaccord Genuity Group lowered their price objective on shares of e.l.f. Beauty from $174.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Piper Sandler lowered their price objective on shares of e.l.f. Beauty from $167.00 to $131.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. UBS Group reaffirmed a “neutral” rating and set a $74.00 price objective (down from $158.00) on shares of e.l.f. Beauty in a research note on Friday, February 7th. DA Davidson reaffirmed a “neutral” rating and set a $80.00 price objective on shares of e.l.f. Beauty in a research note on Tuesday. Finally, B. Riley reaffirmed a “buy” rating and set a $90.00 price objective (down from $150.00) on shares of e.l.f. Beauty in a research note on Friday, February 7th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.94.

e.l.f. Beauty Price Performance

NYSE:ELF traded up $4.94 during midday trading on Friday, hitting $76.05. The company had a trading volume of 1,280,782 shares, compared to its average volume of 3,230,340. e.l.f. Beauty has a 52-week low of $63.50 and a 52-week high of $221.83. The stock’s fifty day moving average price is $111.49 and its 200-day moving average price is $121.74. The company has a market capitalization of $4.29 billion, a PE ratio of 45.11, a P/E/G ratio of 6.95 and a beta of 1.47. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.20.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.35). e.l.f. Beauty had a return on equity of 16.88% and a net margin of 7.55%. As a group, research analysts expect that e.l.f. Beauty will post 2.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Scott Milsten sold 530 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $137.60, for a total transaction of $72,928.00. Following the sale, the insider now owns 68,853 shares in the company, valued at $9,474,172.80. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Maureen C. Watson sold 785 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $130.00, for a total transaction of $102,050.00. Following the sale, the director now owns 1,888 shares in the company, valued at approximately $245,440. The trade was a 29.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,205 shares of company stock worth $297,442. 3.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On e.l.f. Beauty

A number of institutional investors have recently made changes to their positions in ELF. Nemes Rush Group LLC purchased a new stake in e.l.f. Beauty in the fourth quarter worth approximately $27,000. Wilmington Savings Fund Society FSB purchased a new stake in e.l.f. Beauty in the third quarter worth approximately $25,000. Orion Capital Management LLC purchased a new stake in e.l.f. Beauty in the fourth quarter worth approximately $30,000. Promus Capital LLC purchased a new stake in e.l.f. Beauty in the fourth quarter worth approximately $31,000. Finally, Kestra Investment Management LLC purchased a new stake in e.l.f. Beauty in the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Company Profile

e.l.f. Beauty, Inc is a holding company, which engages in the provision of inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. The company focuses on the e-commerce, national retailers and international business channels. Its brands include elf, elf skin, WELL People and KEYS soulcare.