On July 21, e.l.f. Beauty rose 8.03% in regular trading, trading at $79.63/share, with turnover of $186 million. The rally was driven by UBS raising its price target on the stock to $80 from $60, while maintaining a neutral rating.

The target price increase reflects optimism around the company's expansion into the haircare category. UBS noted that e.l.f. Beauty launched a six-product haircare lineup priced below $10 each, distributed through TikTok Shop and Target. The assortment is skewed toward styling and treatment products, with four of six SKUs in those formats and two core wash products. UBS highlighted that the digital-first execution and prior success in category expansion could support share gains over time, positioning haircare as a meaningful new growth lever.

The broader analyst consensus currently rates the stock as overweight with a mean price target of $75. e.l.f. Beauty is a multi-brand beauty company offering inclusive, affordable, and clean cosmetic and skincare products sold through national and international retailers and direct-to-consumer channels.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)