Elf Beauty, IBD Stock Of The Day, Flashes Sell Signal After 150% Rally To Record Highs

e.l.f. Beauty

e.l.f. Beauty

ELF

$19.69

10.59%

239%

IBD Stock Analysis

Hard break of 10-week moving average flashes sell signal.

Composite Rating

Industry Group Ranking

Emerging Pattern

Breakdown

* Not real-time data. All data shown was captured at
1:39PM EDT on
04/03/2024.

ELF Beauty is the IBD Stock of The Day for Wednesday, but not because the stock is a buy. Elf stock is flashing a sell signal as it breaks below a key level of support.

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Ulta Comments Spark Cosmetics Drop

Beauty and cosmetics stocks tumbled Wednesday following cautious comments from Ulta Beauty (ULTA) executives during the JPMorgan Annual Retail Round Up Investor Conference.

Ulta CEO Dave Kimball and CFO Paula Oyibo said the company is seeing “a bit slower growth” than anticipated this year and expects comparable sales growth on the “lower end” of its guidance for the first half of the year, The Fly reported.

“We had planned for moderation in total category growth to kind of the mid-single-digit range,” Oyibo said. “What we’ve seen so far is a slowdown in the total category across price points and segments. So that’s a bit earlier and a bit bigger than we thought.”

Ulta previously guided 2024 comparable sales growth between 4% and 5%, with the first half of the year in the low-single digits and the second half of the year in the mid-single digits.

The company now expects Q1 comparable sales to be on the lower end of the low-single digit range provided in the first-half guidance.

CEO Kimball said consumers are still “passionate about beauty,” but noted rising economic pressures.

“The level of engagement we see — in social media, and in our stores and online, and all the touchpoints we have — continues to be very strong,” Kimball said. “But there’s a lot going on. Economically, there’s kind of mixed data points.”

Kimball noted healthy employment rates and wage growth, but added there are pressures from rising credit card debt and student loan dynamics. More broadly, there are political challenges and global conflicts in…

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