What's Been Happening With e.l.f. Beauty Stock?

by Ryan Gustafson Benzinga Staff Writer

Zinger Key Points

e.l.f. Beauty shares have rallied more than 50% over the past three months.
After hitting an all-time high on Tuesday, the stock has pulled back, with the sell off gaining more traction on Thursday.
Get 5 ‘Hidden Gem’ stock picks and daily rankings—now 60% off for Memorial Day.

e.l.f. Beauty, Inc. ELF shares traded lower on Thursday. The stock hit an all-time high earlier in the week before pulling back from the strength in the following days.

What To Know: Shares trended higher by over 50% during the past three months, bolstered by strong numbers from holiday sales events as well as an improved market sentiment towards the end of last year.

On Tuesday, the stock hit an all-time high of $164.71 before pulling back slightly on Wednesday. However, on Thursday, shares sold off considerably more, down over 7%.

It is worth noting that on Wednesday evening, it was announced that e.l.f. Beauty stock will replace Spirit Realty Capital Inc. SRC in the S&P MidCap 400. Peabody Energy Corp. BTU will replace e.l.f. Beauty in the S&P SmallCap 600. The change will be made effective prior to the opening of trading on Jan. 23.

Additionally, JP Morgan analyst Andrea Teixeira maintained e.l.f. Beauty with a Overweight and raised the price target from $130 to $175 on Thursday.

ELF Price Action: Shares of e.l.f. Beauty were down 4.14% at $156.36 at the close of the market, according to Benzinga Pro.

Image by kinkates from Pixabay