This Under-the-Radar Move Will Likely Drive e.l.f. Sales and Could Boost the Stock.

e.l.f. Beauty unveiled new summer products for its Rhode brand, including three new items and limited-edition offerings. The expansion of Rhode's product assortment, combined with founder Hailey Bieber's social media promotion and higher profit margins, could drive significant sales growth. With a forward P/E of 16, the stock is considered undervalued with strong growth potential ahead.