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e.l.f. Beauty (ELF) Soars 5.9%: Is Further Upside Left in the Stock?
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e.l.f. Beauty (ELF - Free Report) shares soared 5.9% in the last trading session to close at $74. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 30.7% gain over the past four weeks.
e.l.f. Beauty shares appear to have benefited from confidence in the company’s long-term growth strategy, supported by its expanding multi-brand portfolio, continued market share gains, international expansion and strong momentum at Rhode and Naturium. Targeted pricing actions, accelerated innovation plans and leadership changes aimed at strengthening the core e.l.f. brand likely reinforced investor sentiment.
This cosmetics company is expected to post quarterly earnings of $0.73 per share in its upcoming report, which represents a year-over-year change of -18%. Revenues are expected to be $424.55 million, up 20% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For e.l.f. Beauty, the consensus EPS estimate for the quarter has been revised 6.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on ELF going forward to see if this recent jump can turn into more strength down the road.
e.l.f. Beauty belongs to the Zacks Cosmetics industry. Another stock from the same industry, Helen of Troy (HELE - Free Report) , closed the last trading session 1.4% higher at $29.07. Over the past month, HELE has returned 7.6%.
Helen of Troy's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.02. Compared to the company's year-ago EPS, this represents a change of -95.1%. Helen of Troy currently boasts a Zacks Rank of #2 (Buy).
View the Zacks #1 Rank List
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e.l.f. Beauty (ELF) Soars 5.9%: Is Further Upside Left in the Stock?
e.l.f. Beauty (ELF - Free Report) shares soared 5.9% in the last trading session to close at $74. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 30.7% gain over the past four weeks.
e.l.f. Beauty shares appear to have benefited from confidence in the company’s long-term growth strategy, supported by its expanding multi-brand portfolio, continued market share gains, international expansion and strong momentum at Rhode and Naturium. Targeted pricing actions, accelerated innovation plans and leadership changes aimed at strengthening the core e.l.f. brand likely reinforced investor sentiment.
This cosmetics company is expected to post quarterly earnings of $0.73 per share in its upcoming report, which represents a year-over-year change of -18%. Revenues are expected to be $424.55 million, up 20% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For e.l.f. Beauty, the consensus EPS estimate for the quarter has been revised 6.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on ELF going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
e.l.f. Beauty belongs to the Zacks Cosmetics industry. Another stock from the same industry, Helen of Troy (HELE - Free Report) , closed the last trading session 1.4% higher at $29.07. Over the past month, HELE has returned 7.6%.
Helen of Troy's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.02. Compared to the company's year-ago EPS, this represents a change of -95.1%. Helen of Troy currently boasts a Zacks Rank of #2 (Buy).