1 Growth Stock Down 30% to Buy Right Now
Back in June, e.l.f. Beauty's (NYSE: ELF) stock closed at its record high of $218 per share. That marked a 1,353% gain from its IPO price of $15 in less than eight years. Instead of chasing higher-end consumers as L'Oreal and Estée Lauder do, the American cosmetics underdog carved out a high-growth niche by targeting younger shoppers with discount products, online sales, and clever social media campaigns. It also sold its products at more brick-and-mortar retailers, expanded internationally, and acquired the skincare brand Naturium last October.
But as of this writing, e.l.f. Beauty's stock has retreated by about 30% from its all-time high. Most of that decline occurred after it delivered its fiscal 2025 first-quarter report on Aug. 8. Though it posted an earnings beat, it followed that up with an underwhelming outlook for the rest of the year. However, I believe that this pullback might represent a promising buying opportunity for patient investors.
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