Why e.l.f. Beauty (ELF) Dipped More Than Broader Market Today

e.l.f. Beauty (ELF) closed at $100.78, down 1.31% from the previous day, underperforming the S&P 500. The stock has fallen 3.45% over the past month. While analysts expect a 36.08% revenue increase to $468.03 million in the upcoming quarter, earnings per share are projected to decline 13.24% to $0.59. Full-year estimates show earnings growth of 16.29% and revenue growth of 20.16%. The stock carries a Zacks Rank of #3 (Hold) with a Forward P/E of 28.02, trading at a premium to its industry average.