On Dec 07, major Wall Street analysts update their ratings for $Ulta Beauty (ULTA.US)$, with price targets ranging from $330 to $505.
Goldman Sachs analyst Kate McShane maintains with a hold rating, and sets the target price at $396.
BofA Securities analyst Lorraine Hutchinson maintains with a hold rating.
UBS analyst Michael Lasser maintains with a buy rating, and adjusts the target price from $505 to $490.
Deutsche Bank analyst Krisztina Katai maintains with a buy rating, and adjusts the target price from $424 to $459.
Wells Fargo analyst Ike Boruchow maintains with a sell rating, and maintains the target price at $350.
Furthermore, according to the comprehensive report, the opinions of $Ulta Beauty (ULTA.US)$'s main analysts recently are as follows:
Ulta Beauty's third quarter outcomes highlighted improvements in sales and a stabilization of margins. Even though external pressures persist, it's believed that the company has strategies to return to positive comparable sales growth soon. Moreover, the market is likely to find the earnings per share estimates for 2025 attainable.
The improvement in comparable sales for Ulta Beauty occurred earlier than market expectations, contributing to an increase in the company's stock value. Although the forecast for Q4 is seen as conservative, challenges still persist due to a competitive market and sector-specific headwinds.
The flip to slightly positive comps and year-over-year promotional margins for Ulta Beauty, which are better than anticipated for Q3 and still an improvement over 2019, were highlighted by analysts as critical factors dispelling ongoing structural bear concerns. They indicated that Ulta's strategic positioning looking towards 2025 remains promising.
Ulta Beauty surpassed sales and earnings expectations in Q3 and raised its fiscal 2024 projections for all metrics due to this outperformance. Nonetheless, challenges are anticipated for Q4, with expectations of a decline in comparable sales.
Ulta Beauty's recent financial reports exceeded expectations due to improved comparable store sales, gross margins, and expenditures which collectively contributed to a significant beat in earnings per share. Although Ulta operates within an appealing industry, clarity regarding competition and distribution is required to better determine the potentials of sales and margin stability.
Here are the latest investment ratings and price targets for $Ulta Beauty (ULTA.US)$ from 13 analysts:
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
