What's Going On With Ulta Beauty Stock?

Ulta Beauty, Inc. ULTA shares are trading higher Friday after the company reported better-than-expected third-quarter financial results and revised its fiscal year guidance.

What To Know:

Ulta Beauty reported quarterly earnings of $5.07 per share, beating the analyst consensus estimate of $4.95 and quarterly sales of $2.49 billion, beating the consensus estimate of $2.47 billion.

Ulta also narrowed its fiscal year net sales outlook from between $11.05 billion and $11.15 billion to between $11.10 billion and $11.15 billion.

Several analysts updated their coverage on Ulta following the earnings report:

• Wells Fargo analyst Ike Boruchow maintained Ulta Beauty with an Underweight and raised the price target from $375 to $400.
• DA Davidson analyst Michael Baker maintained Ulta Beauty with a Buy and raised the price target from $495 to $530.
• Citigroup analyst Kelly Crago maintained Ulta Beauty with a Neutral and raised the price target from $440 to $485.

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ULTA Price Action: According to Benzinga Pro, Ulta Beauty shares are up by 11.8% at $476.18 at the time of publication.

Image: pmvchamara from Pixabay