e.l.f. Beauty Price Target Upgraded by JPMorgan Chase & Co.

e.l.f. Beauty (NYSE:ELF) received an upgraded price target of $111 from JPMorgan Chase & Co., representing a potential upside of 20.30% from its current price.

The brokerage maintains an 'overweight' rating on the stock, and this is not the only positive update for e.l.f. Beauty recently. Sanford C. Bernstein boosted their price target to $121 with an 'outperform' rating, while Robert W. Baird set a target of $105.

e.l.f. Beauty's quarterly earnings results exceeded analysts' expectations in August, with adjusted earnings per share (EPS) coming in at $1.75 versus the estimated $0.71. Revenue rose 35.5% year over year to $479.4 million, surpassing expectations of approximately $431 million.

e.l.f. Beauty also raised its fiscal 2027 outlook, expecting net sales growth of 18% to 20%, implying revenue near the $2 billion milestone. EPS guidance was also increased to $3.50 to $3.55, exceeding the roughly $3.12 analyst consensus.