Parkev Tatevosian, CFA发布 2026-08-31
《e.l.f. Beauty Stock: Buy or Sell?》
$ELF看跌
将ELF评级下调至持有；当前股价（107美元）高于DCF公允价值（55美元），且利润率扩张落后于营收增长。
e.l.f. Beauty 报告净销售额同比增长 36%，毛利率提升至 83%，部分原因是美国最高法院裁定该公司此前支付的关税非法，因此获得了退款。
e.l.f. Beauty reported 36% year-over-year net sales growth with a gross profit margin increasing to 83% thanks to partly to refunds of tariffs the company paid earlier that were rejected as illegal by the Supreme Court of the United States.
该公司上调了 2026 年的展望，目前预计中点收入增长 19%，高于此前预测的中点增长 13%。当然，所有这些都导致股价上涨，e.l.f. Beauty 的股票在 2026 年至今已上涨超过 40%。
The company revised its outlook for 2026 higher, now expecting revenue growth of 19% at the midpoint, up from the previously forecasted 13% at the midpoint. Of course, all of this is leading to an increasing share price as e.l.f. Beauty stock is now up over 40% year-to-date in 2026.