What's Been Happening With e.l.f. Beauty Stock?
e.l.f. Beauty, Inc. (NYSE: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. (NYSE:SRC) in the S&P MidCap 400. Peabody Energy Corp. (NYSE: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.
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