Rhode Is Fueling e.l.f.'s Latest Surge. Is It Time to Jump In?

e.l.f. Beauty reported strong fiscal Q1 results with 36% revenue growth to $479.4M, driven by its Rhode brand acquisition which contributed $160M in sales. The company raised full-year guidance and is expanding Rhode's distribution through Sephora and international markets while launching into hair care. With a forward P/E under 25, the analyst views the stock as having significant upside potential.