You may have never heard of e.l.f. Beauty (NYSE: ELF), but thanks to its nearly 140% gain in 2023, this under-the-radar stock is quickly becoming a must-know name.

So, is there still time for new investors to jump aboard? Or is this hyper-growth stock too hot to handle? Let's dive in and find out.

E.l.f. Beauty makes, markets, and sells cosmetics and skincare products in the U.S., Canada, and the U.K. In addition to being vegan, cruelty-free, and fair-trade certified, e.l.f. Beauty's products are reasonably priced. In fact, e.l.f. Beauty's average unit retail (AUR) -- or the average sale price for its products -- is around $6. By comparison, top mass brands, such as L'Oreal or Estee Lauder, have AURs around $9. Prestige brands like Lancome, Bobbi Brown, or First Aid Beauty often have AURs above $20. 

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Source Fool.com