Does it make sense to buy stocks that have already delivered incredible gains? That's an important question investors are always thinking about. Is it too late to buy, or is there more coming?

An example is e.l.f. Beauty (NYSE: ELF) stock, which is up 75% over the past year, and is seriously outperforming the market. It's demonstrating tremendous resilience despite the inflationary environment, and it looks like there's plenty of gas left in its tank. If you buy shares today, I think you can expect them to double and go even higher.

e.l.f. is the modern response to age-old beauty needs. It brands itself as disruptive, positive, and inclusive, "with heart." In other words, it's what resonates with today's millennial and Gen Z consumers. It also prices itself to meet mass demand. Altogether, it has built a formidable and distinctive cosmetics empire that's just getting started.

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Source Fool.com