Ulta Beauty, Inc. ULTA reported better-than-expected results for its second quarter and raised its FY22 guidance.
Ulta increased its FY22 EPS guidance from $19.20-$20.10 to $20.70-$21.20 and also raised sales guidance from $9.35 billion -$9.55 billion to $9.65 billion -$9.75 billion.
Ulta Beauty shares rose 3.4% to $433.50 in pre-market trading.
Several analysts made changes to their price targets on Ulta Beauty following the release of results.
- Telsey Advisory Group raised price target on Ulta Beauty from $475 to $510. Telsey Advisory Group analyst Dana Telsey maintained the stock with an Outperform.
- Piper Sandler boosted Ulta Beauty’s price target from $485 to $510. Piper Sandler analyst Korinne Wolfmeyer maintained the stock with an Overweight rating.
- Raymond James increased Ulta Beauty price target from $485 to $505. Raymond James analyst Olivia Tong maintained a Strong Buy rating on the stock.
- Goldman Sachs boosted price target on the stock from $427 to $491. Goldman Sachs analyst Kate McShane maintained Ulta Beauty with a Buy.
- Credit Suisse raised the price target on the stock from $455 to $480. However, Credit Suisse analyst Michael Binetti maintained Ulta Beauty with an Outperform.
- Stifel increased Ulta Beauty’s price target from $435 to $450. However, Stifel analyst Mark Astrachan maintained a Hold rating on the stock.
- Baird boosted Ulta Beauty’s price target from $480 to $500. Baird analyst Mark Altschwager maintained the stock with an Outperform.
- UBS raised price target on Ulta Beauty from $500 to $530. UBS analyst Michael Lasser maintained the stock with a Buy.
- Deutsche Bank increased Ulta Beauty’s price target from $563 to $589. Deutsche Bank analyst Krisztina Katai maintained the stock with a Buy rating.
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