Stock Market News

Elf Beauty stock moves higher after earnings, Jefferies ‘excited’ about upside

2024.02.07 05:07


© Reuters. Elf Beauty (ELF) stock moves higher after earnings, Jefferies ‘excited’ about upside

Elf Beauty (ELF) rose almost 4% in premarket buying and selling Wednesday after the corporate posted better-than-expected earnings and income for the third quarter.

Earnings per share (EPS) had been reported at $0.74, topping the consensus estimates of $0.57. Revenue got here in at $270.9 million, forward of the estimated $238.89 million.

Gross margin grew 350 foundation factors to 71% within the quarter, the corporate stated.

For the complete fiscal 2024, Elf Beauty sees EPS starting from $2.84 to $2.87, forward of the projected $2.74. Revenue is anticipated to land between $980 million and $990 million, additionally higher than the $927.1 million anticipated by analysts.

“Our vision is to create a different kind of beauty company and you can see that in the exceptional, consistent, category-leading growth we’ve delivered,” stated Tarang Amin, the corporate’s Chairman and CEO.

“In Q3, we grew net sales by 85% and market share by 305 basis points, marking our 20th consecutive quarter of growth in each. I’m extremely proud of our team and the progress we continue to make across color cosmetics, skin care and internationally.”

Jefferies analysts counseled Elf’s quarterly efficiency, mountain climbing their goal value on the stock from $180 to $200.

“The brand continues to have momentum, and will be gaining shelf space in spring & summer of CY24. We are excited about the amount of runway for the company. PT moves to $200.” they wrote.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 62,510.75 9.69%
ethereum
Ethereum (ETH) $ 3,378.23 4.21%
tether
Tether (USDT) $ 1.00 0.20%
bnb
BNB (BNB) $ 416.03 5.27%
solana
Solana (SOL) $ 117.16 8.34%
staked-ether
Lido Staked Ether (STETH) $ 3,371.76 4.07%
xrp
XRP (XRP) $ 0.57631 1.98%
usd-coin
USDC (USDC) $ 1.00 0.17%
cardano
Cardano (ADA) $ 0.63158 1.17%
dogecoin
Dogecoin (DOGE) $ 0.116682 18.73%
avalanche-2
Avalanche (AVAX) $ 40.19 2.47%
tron
TRON (TRX) $ 0.142142 0.48%
chainlink
Chainlink (LINK) $ 19.43 1.95%
polkadot
Polkadot (DOT) $ 8.37 0.01%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 62,361.71 9.58%
matic-network
Polygon (MATIC) $ 1.01 1.61%
the-open-network
Toncoin (TON) $ 2.55 18.11%
uniswap
Uniswap (UNI) $ 10.94 0.91%
shiba-inu
Shiba Inu (SHIB) $ 0.000012 7.50%
bitcoin-cash
Bitcoin Cash (BCH) $ 297.51 1.66%
internet-computer
Internet Computer (ICP) $ 12.64 2.90%
litecoin
Litecoin (LTC) $ 74.84 1.08%
dai
Dai (DAI) $ 1.00 0.26%
immutable-x
Immutable (IMX) $ 3.35 0.35%
blockstack
Stacks (STX) $ 3.11 5.87%
aptos
Aptos (APT) $ 12.24 23.02%
cosmos
Cosmos Hub (ATOM) $ 11.45 2.16%
ethereum-classic
Ethereum Classic (ETC) $ 29.71 5.71%
kaspa
Kaspa (KAS) $ 0.176001 4.24%
near
NEAR Protocol (NEAR) $ 3.88 1.92%
leo-token
LEO Token (LEO) $ 4.24 2.87%
filecoin
Filecoin (FIL) $ 7.66 0.08%
bittensor
Bittensor (TAO) $ 608.61 0.61%
injective-protocol
Injective (INJ) $ 43.22 7.65%
hedera-hashgraph
Hedera (HBAR) $ 0.112917 4.41%
optimism
Optimism (OP) $ 3.77 1.94%
vechain
VeChain (VET) $ 0.048915 0.15%
stellar
Stellar (XLM) $ 0.120876 1.44%
first-digital-usd
First Digital USD (FDUSD) $ 1.00 0.31%
okb
OKB (OKB) $ 52.27 1.41%
lido-dao
Lido DAO (LDO) $ 3.43 0.86%
mantle
Mantle (MNT) $ 0.944908 5.99%
render-token
Render (RNDR) $ 8.00 11.06%
celestia
Celestia (TIA) $ 16.50 3.08%
crypto-com-chain
Cronos (CRO) $ 0.104118 0.64%
the-graph
The Graph (GRT) $ 0.289415 3.58%
monero
Monero (XMR) $ 134.19 3.40%
arbitrum
Arbitrum (ARB) $ 1.91 0.72%
sei-network
Sei (SEI) $ 0.868735 2.36%
rocket-pool-eth
Rocket Pool ETH (RETH) $ 3,714.19 4.15%