E.L.F. Beauty, Inc. ELF stock is in the spotlight Wednesday ahead of earnings after the market close. Here’s what you need to know.

What To Know: E.L.F. is set to release financial results for its fiscal second quarter after Wednesday’s closing bell. Analysts anticipate revenue of $285.76 million and earnings of 42 cents per share, according to estimates from Benzinga Pro.

E.L.F. Beauty missed analyst estimates for revenue and adjusted EPS in its most recent quarter. The company reported revenue of $324.47 million, missing analyst estimates of $376.99 million by 13.93%, and adjusted EPS of $1.10, missing analyst estimates of $1.13.

However, E.L.F. Beauty raised its guidance for the full year, guiding for net sales between $1.28 billion and $1.3 billion, up from previous guidance of $1.23 billion to $1.25 billion.

“We are off to a strong start this fiscal year, delivering 50% net sales growth and 260 basis points of market share gains in Q1. This marked our 22nd consecutive quarter of both net sales growth and market share gains–putting e.l.f. Beauty in a rarified group of high growth consumer companies. We continue to make progress across color cosmetics, skin care and international and believe our unique areas of advantage will fuel our ability to win in fiscal 2025 and beyond,” CEO Tarang Amin said in the report.

Multiple analysts have lowered price targets in recent weeks leading up to E.L.F. Beauty’s second-quarter report.

Last week, Jefferies analyst Ashley Helgans maintained a Buy rating, but lowered the price target from $220 to $175. In addition, DA Davidson analyst Linda Bolton Weiser maintained a Buy rating and price target of $223.

A week earlier, Stifel maintained a Hold rating and lowered the price target from $161 to $131, Baird cut its price target to $175 from $240 and Truist slashed its target from $210 to $130.

E.L.F Beauty shares are down about 43% since the company last reported quarterly results.

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ELF Price Action: At the time of publication, E.L.F. Beauty shares were down 3.61% at $103.39, per data from Benzinga Pro.

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