e.l.f. Beauty Inc.'s stock soared 9.10% at the open on Thursday, following the company's impressive third-quarter fiscal 2026 financial results.

The cosmetics maker reported earnings and revenue that significantly exceeded Wall Street expectations, driven by steady consumer demand for its affordable beauty products. The company also raised its full-year sales and profit outlook, now expecting revenue of $1.60 billion to $1.61 billion and adjusted earnings per share of $3.05 to $3.10.

Analysts pointed to strong performance from e.l.f.'s recently acquired Rhode brand, founded by Hailey Bieber, which is exceeding expectations. The company continues to gain market share as consumers have accepted price increases implemented in response to tariffs. Multiple brokerages, including Citigroup, JP Morgan, Jefferies, Deutsche Bank, and UBS, raised their price targets on the stock following the earnings release.