What's Going On With Ulta Beauty Stock Friday?

Ulta Beauty, Inc. ULTA shares are volatile Friday following better-than-expected earnings results for the first quarter. Here’s a look at what’s going on.

What To Know: Ulta reported financial earnings for the first quarter of fiscal-year 2024 after the market close on Thursday.

The company reported EPS of $6.47 which came in ahead of analyst estimates of $6.22. In addition, Ulta announced revenue of $2.726 billion beating analyst estimates of $2.721 billion.

The company updated their guidance for the fiscal-year 2024. Ulta sees EPS between $25.2 and $26 and net sales from $11.5 billion to $11.6 billion. Originally, Ulta expected EPS from $26.2 to $27 and net sales between 11.7 billion and 11.8 billion.

Analyst Changes: Following the earnings report, several analyst released price target adjustments.

• Evercore ISI Group analyst Michael Binetti maintains Ulta Beauty with a Outperform and lowers the price target from $630 to $500.
• Telsey Advisory Group analyst Dana Telsey maintains Ulta Beauty with a Outperform and maintains $500 price target.
• Piper Sandler analyst Korinne Wolfmeyer maintains Ulta Beauty with an Overweight and lowers the price target from $505 to $498.
• BMO Capital analyst Simeon Siegel maintains Ulta Beauty with a Market Perform and lowers the price target from $540 to $500.

Related Link: The Analyst Landscape: 18 Takes On Dollar Tree

ULTA Price Action: Ulta shares are currently higher 1.15% and trading at $390 per data from Benzinga Pro.

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