E.l.f. Beauty stock drops 13% in May despite strong sales growth and analyst 'Market Perform' rating.

E.l.f. Beauty's stock fell 13% in May even though the company reported its 29th consecutive quarter of sales growth and a 35% increase in fiscal Q4 revenue. Analyst firm Bernstein initiated coverage with a 'Market Perform' rating at a stock price of $60.68. The stock faced selling pressure from insider sales and institutional divestment, including the Chief Commercial Officer selling $536,000 in shares and Bridgefront Capital exiting its $4.83 million position. Despite the dip, E.l.f. Beauty maintains strong financial health with a 73% gross margin and a $3.61 billion market cap.