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
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