Gen Z Is Obsessed With This Cosmetics Company. But Can the Stock Give Your Portfolio a Makeover?
When it comes to the beauty and cosmetics industry, names such as Estée Lauder or L'Oréal probably come to mind. But like most industries, eventually a new player comes along and begins to make headway against the old stalwarts. A lesser-known cosmetics brand called e.l.f. Beauty (NYSE: ELF) is increasingly becoming a big problem for traditional leaders in the space. Fresh off an acquisition in the skincare sector, the company just reported rock-solid results for its second quarter of its fiscal 2024 (ended Sept. 30).
What's even better is that the growth stock has taken a major breather -- trading over 25% below intra-year highs. Despite a cloudy macroeconomy, e.l.f. Beauty has defied expectations and continues to figure out creative ways to market its products. I think the beauty newcomer has a greenfield opportunity to continue disrupting the makeup and skincare industry and become an undisputed leader.
Let's break down the latest earnings report and determine if now is an opportunity to buy the dip.
Source Fool.com
