e.l.f. Beauty, Inc. (NYSE:ELF) is among the top losers of the stock market today, sinking -4.3% or (-0.72 points) to $16.03 from its previous close of $16.75. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 432080 contracts so far this session. ELF shares had a relatively better volume day versus average trading capacity of 706.38 thousand shares, but with a 29.63 million float and a -8.17% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ELF stock indicates that the average analyst price target is $17.65 per share. This means the stock has a potential increase of 10.11% from where the ELF share price has been trading recently which is between $16.33 and $17.8. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $12.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “e.l.f. Beauty (NYSE:ELF) Has A Somewhat Strained Balance Sheet” and dated August 19, 2019.
During the recent trading session for e.l.f. Beauty, Inc. (NYSE:ELF), the company witnessed their stock drop by $-1.49 over a week and tumble down $-0.03 from the price 20 days ago. When compared to their established 52-week high of $19.08, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/22/19. The recent low of $6.7 stood for a -15.99% since 02/27/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for e.l.f. Beauty, Inc., the two-week RSI stands at 43.51. This figure suggests that ELF stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ELF readings is similarly very revealing as it has a stochastic reading of 22.88% at this stage. This figure means that ELF share price today is being overbought.
Technical chart claims that e.l.f. Beauty, Inc. (ELF) would settle between $17.59/share to $18.43/share level. However, if the stock price goes below the $16.12 mark, then the market for e.l.f. Beauty, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $15.49 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.67. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Piper Jaffray raised their recommendation on shares of ELF from Underweight to Neutral in their opinion released on August 08. JP Morgan analysts bumped their rating on e.l.f. Beauty, Inc. (NYSE:ELF) stock from Neutral to Overweight in a separate flash note issued to investors on July 09. Analysts at Morgan Stanley released an upgrade from Underweight to Equal-Weight for the stock, in a research note that dated back to June 05.
ELF equity has an average rating of 2.33, with the figure leaning towards a bullish end. 12 analysts who tracked the company were contacted by Reuters. Amongst them, 5 rated the stock as a hold while the remaining 7 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 6 analysts rated e.l.f. Beauty, Inc. (NYSE:ELF) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, ELF stock price is currently trading at 34.47X forward 12-month Consensus EPS estimates, and its P/S ratio is 4.03 while for the average stock in the same group, the multiple is 1.95.