Ulta Beauty Gets Price Target Bumps By Analysts After Strong Q4 Results

Ulta Beauty Inc ULTA reported better-than-expected financial results and issued strong guidance

Ulta reported quarterly revenue of $3.23 billion, up from consensus estimates of $3.02 billion. The company reported earnings of $6.68 per share, beating estimates of $5.65 per share.

Ulta said it sees full-year 2023 revenue to be between $10.95 billion and $11.05 billion versus estimates of $10 billion. The company expects earnings of $24.70 per share to $25.40 per share for the full year versus estimates of $22.93 per share.

Ulta Beauty shares gained 1.9% to close at $53.14 on Wednesday and lost 0.7% in today’s pre-market trading session.

These analysts made changes to their price targets on Ulta Beauty following the release of results.

• Telsey Advisory Group raised the price target on Ulta Beauty from $575 to $600. Telsey Advisory Group analyst Dana Telsey maintained an Outperform rating.
• Barclays increased the price target on Ulta Beauty from $548 to $636. Barclays analyst Adrienne Yih maintained an Overweight rating.
• BMO Capital lifted the price target on Ulta Beauty from $390 to $510. BMO Capital analyst Simeon Siegel maintained a Market Perform rating.

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