11:52 AM EDT, 05/17/2024 (MT Newswires) -- E.l.f. Beauty (ELF) is expected to deliver "strong" fiscal Q4 results on Wednesday, UBS Securities said in a note.

The firm said that Street estimates of a 56% top-line growth for the company in the quarter are ahead of the 48% to 53% range implied by the company's fiscal 2024 guidance.

UBS said it expects $0.33 earnings per share for e.l.f. in fiscal Q4, which it said is in-line with Visible Alpha Consensus.

But the firm noted that the "bigger debate" centers on the initial outlook for fiscal 2025, saying that the company "has a history of providing very conservative guidance."

"Investors are trying to understand whether a guide that falls short of Street expectations would be viewed as ELF following its conservative historical pattern, or a sign of a more challenging year to come," UBS said.

UBS maintained the company's buy rating and $202 price target.

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