E.l.f. Beauty Rated Market Perform at $60.68 After 13% Decline
ELF•Bernstein initiated a Market Perform rating on E.l.f. Beauty when shares stood at $60.68, following a 13% May decline despite 29 consecutive quarters of sales growth and a 35% year-over-year surge in Q4 revenue. Insider and institutional sales totaling roughly $5.37 million have added further selling pressure.
1. Bernstein Issues Market Perform Rating
Bernstein initiated a Market Perform rating on E.l.f. Beauty when shares were at $60.68, following a 13% drop in May trading.
2. Continued Sales Growth and Revenue Surge
The company extended its sales growth streak to 29 consecutive quarters, with fiscal Q4 revenue rising 35% year-over-year and gross margin expanding by 1.4 percentage points to 73%.
3. Insider and Institutional Selling Pressure
Chief Commercial Officer sold 10,318 shares for approximately $536,000, while Bridgefront Capital exited a $4.83 million position, adding to downward stock pressure.
4. Trading Range and Market Capitalization
Shares have traded between $56.52 and $60.83 over the day, with a 52-week range of $48.82 to $150.99 and a market capitalization of $3.61 billion.
