Jim Cramer Says He is “Such a Big Believer in ELF”

e.l.f. Beauty, Inc. (NYSE:ELF) is one of the stocks Jim Cramer recently put under a microscope. A caller asked for Cramer’s thoughts on the stock given that it has been hit recently, and here’s what he had to say in response:

“Boy, you know, I was shocked at that. I’m such a big believer in ELF, and it just keeps getting hit and hit and hit, and I don’t know, it’s only $4.6 billion now. That seems very, very low. I know that it did make some mistakes in terms of cost structure, but I’m willing to say that I think, I think it’s a buy. I know that’s contrary to, I think it’s a buy.”

e.l.f. Beauty, Inc. (NYSE:ELF) sells cosmetics and skincare products under brands like e.l.f. Cosmetics, Well People, Naturium, and Keys Soulcare. Cramer mentioned the stock during the October 17 episode. He said:

“While I was on the West Coast, I got a chance to check in with e.l.f. Beauty, the value-oriented cosmetics company based in Oakland. Even though this stock’s up 9% for the year, it’s been a real volatile trader in part because of its heavy reliance on China for manufacturing. But this hasn’t done much to derail the stock lately, and I wouldn’t be surprised if it’s got more upside.”

While we acknowledge the risk and potential of ELF as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ELF and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.