27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Morgan Stanley analyst Dara Mohsenian reiterated an Overweight rating on the shares of E.L.F. Beauty, Inc. (NYSE:ELF) and raised the price target from $118 to $162.
The analyst noted company posted a very large 17% revenue, 20% gross profit, and 71% operating profit beat vs. consensus in 1QFY23.
This was good news, but the analyst wanted to highlight that even more impressively, underlying topline growth accelerating, with a 38% revenue CAGR this quarter vs 2019 far above 30% last quarter, which itself was far above 22% in each of the prior two quarters.
The analyst added that after a sixfold increase in the stock since May of 2022, underlying trends are still accelerating, supporting both substantial near-term upside and longer-term growth potential above what the market is pricing in.
The analyst noted that the Q1 upside/ higher FY guidance confirms the key positive tenets of their recent deep drive report.
Importantly, while ELF is typically very conservative with forward guidance, its $85 million FY revenue raise is far above a ~$30 million beat in Q1, highlighting ELF's confidence in momentum continuing, the analyst commented.
ELF continues to gain outsized market share, including +260 basis points y/y in Q1 and growing +48% vs last year' base, far above +40% Q4 growth, +27% Q3 growth, and +26% Q2 growth, said the analyst.
Price Action: ELF shares are trading higher by 16.4% at $135.63 on the last check Wednesday.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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