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Volatile trading continued after earnings on elf Beauty (New York Stock Exchange: Dwarf) As well as shared urination. 8.7% In late morning trading, after gaining more than 18% in the previous seven sessions. Over the past six weeks, ELF stock has fallen about 12.5% after several series of declines. Ups and downs.
Piper Sandler believes that ELF Beauty’s (ELF) downward move gives investors another entry point. Analyst Corinne Wolfmeyer believes that a slight slowdown in ELF’s credit card data over the past four weeks is the reason behind the stock’s major weakness on Monday, but she doesn’t view the development as a concern and still believes that higher growth in digital, international and Natrium could more than offset that and lead to ELF outperforming in the second quarter.
Raymond James also recently flagged a buying opportunity, with shares of ELF Beauty (ELF) still significantly down from their June peak. After meeting with management, analyst Olivia Tong said the company has confidence in ELF’s ability to grow sales and earnings, well ahead of peers and the company’s near-term outlook.
Alongside the company’s second-quarter earnings report, elf Beauty (ELF) raised its full-year sales forecast to a range of approximately 25% to 27%, up from 20% to 22% previously. Adjusted net income before interest, taxes, depreciation and amortization is expected to be in the range of $297 million to $301 million, up from $285 million to $289 million previously.
elf Beauty (ELF) shares fell 8.4% At 11:40 a.m., the cosmetics retailer’s stock is still 29% below its 52-week high. ELF’s short interest is 4.2% of total shares outstanding.
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