In Monday’s session, e.l.f. Beauty Inc (NYSE:ELF) marked $111.13 per share, down from $112.85 in the previous session. While e.l.f. Beauty Inc has underperformed by -1.52%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ELF rose by 110.83%, with highs and lows ranging from $139.85 to $48.10, whereas the simple moving average jumped by 10.19% in the last 200 days.
On October 23, 2023, Raymond James Upgraded e.l.f. Beauty Inc (NYSE: ELF) to Strong Buy.
Analysis of e.l.f. Beauty Inc (ELF)
Further, the quarter-over-quarter increase in sales is 76.14%, showing a positive trend in the upcoming months.
e.l.f. Beauty Inc’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of 27.85% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.89, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and ELF has an average volume of 1.52M. On a monthly basis, the volatility of the stock is set at 6.80%, whereas on a weekly basis, it is put at 5.64%, with a gain of 14.24% over the past seven days. Furthermore, long-term investors anticipate a median target price of $139.92, showing growth from the present price of $111.13, which can serve as yet another indication of whether ELF is worth investing in or should be passed over.
How Do You Analyze e.l.f. Beauty Inc Shares?
Household & Personal Products giant e.l.f. Beauty Inc (ELF) is based in the USA and is one of the largest companies in the market. When comparing e.l.f. Beauty Inc shares with other companies under Consumer Defensive, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 52.06, there is a growth in quarterly earnings of 172.18%.
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 4.78%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 96.36% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in ELF shares?
The recent increase in stakes in ELF appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in ELF has increased by 3.32% in the first quarter. The company now owns 7,656,378 shares of the stock, with a value of $709.21 million, following the purchase of 246,221 additional shares during the last quarter. The Vanguard Group, Inc. made another decreased to its shares in ELF during the first quarter, downing its stake by -0.50%. During the last quarter, the company picked up -28,976 additional shares for a total stake of worth $538.53 million, bringing number of shares owned by the company to 5,813,819.
During the first quarter, Wellington Management Co. LLP added a 1,695,585 position in ELF. Renaissance Technologies LLC purchased an additional 0.34 million shares in the last quarter, increasing its holdings by 17.75%, now holding 2.27 million shares worth $210.56 million. At the end of the first quarter, SSgA Funds Management, Inc. increased its ELF holdings by 8.93% and now holds 1.89 million ELF shares valued at $175.38 million with the added 0.16 million shares during the period. ELF shares are owned by institutional investors to the tune of 96.36% at present.