BUZZ-Elf Beauty stock rises after raising annual sales and profit forecasts

November 4 - ** Cosmetics manufacturer Elf Beauty ELF.N shares rose 3% in after-hours trading to $117

** The company raised its annual target, betting that its high cost-performance products will see strong demand

** Expects fiscal 2027 sales to be between $2.003 billion and $2.029 billion, compared with the previous forecast of $1.938 billion to $1.968 billion

** Expects annual adjusted earnings per share to be between $3.82 and $3.86, compared with the prior forecast of $3.50 to $3.55

** Second-quarter gross margin rose by about 760 basis points to 77%, with around 30 basis points resulting from incremental income due to tariff rebates under the International Emergency Economic Powers Act (IEEPA)

** ELF's quarterly results also exceeded market expectations

** As of the close of the previous trading day, the stock had gained about 50% year-to-date

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