ELF · e.l.f. Beauty · Consumer

e.l.f. Beauty

Rating: Buy
Price at publication: $67
Target price: $95
Stated upside: +41%
Published: 27 March 2026

By Shaty Mohamed

Thesis

e.l.f.'s value-innovation strategy, delivering premium-quality products at accessible price points, is resonating strongly with Gen Z and millennial consumers.

Key risks

01Tariff exposure on China-sourced goods (200–400 bps of gross margin)
02Growth normalising: 28% in FY2025 after 77% in FY2024
03Execution risk in integrating rhode

Price, target and upside are as stated in the report on 27 March 2026, not updated since.

Full report

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Educational research. This report reflects the views of its student author as of 27 March 2026. It is not investment advice or a recommendation to buy or sell any security. Full disclaimer.