e.l.f. Beauty (ELF) is Top Teen Makeup Brand, Piper Sandler Survey Shows as They Remains 'Sidelined'

Piper Sandler latest Taking Stock With Teens showed that e.l.f. Beauty (NYSE: ELF) climbed to the top makeup brand.

This is happening as the core beauty wallet is making a comeback, growing 10% year-over-year.

"e.l.f. jumped to the No. 1 preferred cosmetics brand among teens for the first time ever, gaining 300bps of mindshare Y/Y to 13%, while Maybelline slid into No. 2 at 11%," the firm said.

Despite the strength, the firm remains on the sidelines with ELF given the valuation and limited EBITDA upside. Analyst Erinn Murphy reiterated a Neutral rating and $32.00 price target on ELF.

For an analyst ratings summary and ratings history on e.l.f. Beauty click here. For more ratings news on e.l.f. Beauty click here.

Shares of e.l.f. Beauty closed at $26.10 yesterday.

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