Elf Beauty shares dip as tariff costs hit profit outlook

Shares of makeup company Elf Beauty ELF.N fall ~11% to $98.54 in premarket trading

Co said on Wednesday it expects a smaller core profit margin for the first half of fiscal 2026 due to higher tariff costs, clouding gains from an upbeat first quarter.

J.P.Morgan trims PT by $2 to $130; maintenance stance at "overweight"

Brokerage expects ELF to sustain strong demand as it continues attracting consumers across income and age groups, with market share gains supported by innovation and repeat purchases

Despite tariff risks from sourcing 75% of products in China, we see upside for ELF as it mitigates headwinds, benefits from easier comps, and taps into white space growth - JPM

Elf's quarterly revenue of $353.7 million beat estimates of $350.3 million, as per data compiled by LSEG

On average, ELF is rated "Buy"; the median PT is $135 - data compiled by LSEG

As of Wednesday's close, the stock was down ~12% YTD