These Analysts Revise Their Forecasts On e.l.f. Beauty After Q1 Results

Core Insights - e.l.f. Beauty, Inc. reported better-than-expected first-quarter results, with earnings of 89 cents per share, surpassing the Street estimate of 84 cents, and quarterly revenue of $353.73 million, exceeding the analyst consensus of $349.43 million, and up from $324.47 million in the same period last year [1][2]. Financial Performance - Quarterly earnings were 89 cents per share, beating the estimate of 84 cents [1]. - Revenue for the quarter was $353.73 million, exceeding the consensus estimate of $349.43 million and up from $324.47 million year-over-year [1]. Market Position - The company gained 210 basis points in market share during the first quarter, continuing a trend of consistent growth over the past 26 quarters [2]. - The CEO highlighted the combination of value proposition, innovation, and marketing as key drivers of the company's performance [2]. Stock Performance - Following the earnings announcement, e.l.f. Beauty shares dipped 9.5% to $99.94 [2]. Analyst Ratings and Price Targets - Morgan Stanley maintained an Equal-Weight rating and raised the price target from $105 to $114 [8]. - Goldman Sachs maintained a Buy rating and increased the price target from $120 to $137 [8]. - UBS maintained a Neutral rating but lowered the price target from $120 to $112 [8].