Ulta Beauty Gets Price Target Increases From Analysts After Upbeat Q2 Results, Shares Gain

Ulta Beauty Gets Price Target Increases From Analysts After Upbeat Q2 Results, Shares Gain

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.

Posted In: PT ChangesEarningsNewsPrice TargetMarketsAnalyst Ratings