Ulta Beauty Stock Rallies 12% on a Slew of Analyst Updates

Ulta Beauty (ULTA) stock rallied on Friday after a large number of analysts updated their coverage of the company following its latest earnings report.

• Telsey Advisory analyst Dana Telsey maintained an Outperform rating and increased the firm’s price target to $520 from $460.
• DA Davidson analysts kept a Buy rating and raised the price target to $485 from $415.
• Evercore ISI analysts reiterated an Outperform rating and boosted their price target to $490 from $465.
• Morgan Stanley analysts maintained an Overweight rating and increased the stock’s price target to $550 from $460.
• Raymond James analyst Olivia Tong kept an Outperform rating and raised the price target to $500 from $450.
• UBS analysts reiterated a Buy rating and boosted their price target to $525 from $490.
• Oppenheimer analysts maintained an Outperform rating and upped their price target to $510 from $465.
• Baird analyst Mark Altschwager stuck with an Outperform rating and increased his price target to $525 from $440.
• JPMorgan analysts kept an Outperform rating and raised their price target to $525 from $477.
• Piper Sandler analysts reiterated a Neutral rating but boosted their price target to $437 from $386.
• Citi maintained a Neutral rating but upped its price target to $450 from $425.
• Canaccord analyst Susan Anderson kept a Buy rating and increased her price target to $542 from $510.
• Wells Fargo analysts stuck with an Underweight rating but raised their price target to $350 from $315.

ULTA Stock Movement Today

ULTA stock rallied 12.44% as of Friday morning, which resulted in a 9.05% rally year-to-date. This comes alongside heavy trading, as 1.83 million shares changed hands, compared to a three-month daily average of 662,510 units.

Is ULTA Stock a Buy, Sell, or Hold?

Turning to Wall Street, the analysts’ consensus rating for Ulta Beauty is Moderate Buy, based on 12 Buy, 11 Hold, and a single Sell rating over the past three months. With that comes an average ULTA stock price target of $425.57, representing a potential 10.21% downside for the shares.

See more ULTA stock analyst ratings