e.l.f. Beauty is poised for a potential stock rebound as it accelerates growth of its recently acquired Rhode brand and expands its namesake line into hair care. The company completed its $1 billion acquisition of Rhode last August, and is now ramping up the high-end skincare brand’s international expansion, including a rollout across Sephora stores in Europe and entry into Australia, New Zealand, and Mexico. Rhode is also broadening its product assortment with new categories like bronzer and spot treatments. Meanwhile, e.l.f. is launching a hair care line featuring shampoo, conditioner, and styling products, sold at Target and through TikTok shops. With these catalysts, the stock trades at a forward price-to-earnings ratio of less than 22 times fiscal 2028 analyst estimates.
ELF Beauty IncRhode international expansion and new categories, plus e.l.f. hair care launch, drive product demand growth.
Target Corporation