Assessing whether e.l.f. Beauty (NYSE: ELF) is overvalued involves examining its premium valuation multiples relative to its rapid revenue growth, expanding market share in the cosmetics sector, and strong retail partnerships. While growth-oriented investors argue that continuous brand momentum, digital marketing efficiency, and international expansion justify higher price-to-earnings ratios, value-focused analysts caution that any deceleration in sales growth or margin compression could trigger sharp valuation corrections.