10 Best High Growth Consumer Stocks to Buy Now

7. e.l.f. Beauty, Inc. (NYSE:ELF)

5-Year Average Revenue Growth: 36.09%

Number of Hedge Fund Holders: 29

Market Cap: $6.77 billion

e.l.f. Beauty, Inc. (NYSE:ELF) is one of the best high growth consumer stocks to buy now. On August 7, Canaccord Genuity maintained its Buy rating on e.l.f. Beauty, Inc. (NYSE:ELF), but reduced its price target from $150 to $128, representing an implied upside of 7.18% from the current price of $119.42.

Canaccord cited that while the company’s business continues to see strong performance internationally, domestic sales have been lackluster.  ELF generated $353.74 million in revenue for Q1 FY 2026 (ended in June 2025), growing 9% year-over-year. Meanwhile, the company reported an EPS of $0.89 per share in Q1 FY 2026, easily beating Wall Street estimates of $0.836 per share.

The company’s international revenue grew 30% year-over-year, despite a high base. International sales grew 91% year-over-year in the year ended June 2024.  The company’s domestic sales were up only 5% year-over-year. Domestic sales accounted for around 80% of the company’s total revenue in Q1.

Canaccord also cited the cosmetic company’s exposure to Chinese manufacturing, which in turn could put further strain on the company’s domestic sales due to tariffs.

On August 5, ELF  completed the acquisition of Rhode for $1 billion. The company, which is known for its affordable pricing, will benefit from Rhode’s premium positioning. Rhode is also known for its Gen Z following, which will expand ELF’s addressable market. However, the deal, which included $600 million in cash, puts a strain on the company’s balance sheet in a tough economic environment.