e.l.f. Beauty Stock Eyes Best Day Ever After Earnings

No fewer than four analysts raised their ELF price targets overnight

Nov 6, 2018 at 9:47 AM
facebook X logo linkedin

The shares of e.l.f. Beauty Inc (NYSE:ELF) are up 18.8% this morning to trade at $13.19 -- on track for their best day ever -- after the discount cosmetics retailer reported adjusted third-quarter profit of 17 cents per share on $64 million in revenue, more than analysts were expecting. The company also raised the low end of its full-year adjusted income and earnings guidance.

Analysts have been quick to chime in on ELF after earnings, with no fewer than four brokerages raising their price targets on the stock. The most optimistic outlook came from BMO, which upped its ELF price target to $14 from $13, a level the equity has not surpassed on a daily closing level since before a mid-August earnings-induced bear gap.

Overall, though, most analysts remain skeptical of ELF stock, with 10 of the 13 in coverage maintaining a "hold" or "strong sell" recommendation. This pessimism is seen elsewhere, with 6.16 million e.l.f. Beauty shares currently dedicated to short interest -- representing nearly 28% of the stock's available float, or 14.5 times the average daily pace of trading.

Looking at the charts, it's not hard to see why sentiment is so bearish toward ELF. Heading into today's trading, the retail stock was down more than 50% year-to-date. And while the shares have broken out above their 50-day moving average -- a trendline that contained a rally off their Aug. 9 record low of $9.30 -- they now have to contend with $14. This former layer of support has served as a ceiling since ELF stock's August plunge.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI