The stock of Ulta Beauty (ULTA) is up 13% and trading at an all-time high after the cosmetics retailer delivered stronger-than-expected financial results.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
In afternoon trading on Dec. 5, ULTA stock was changing hands at a record price of $611.90. This after the company topped Wall Street’s expectations for its third-quarter financial results and offered bullish forward guidance.
Ulta Beauty reported earnings per share (EPS) of $5.14, which beat the $4.64 expected among analysts who track the company’s progress. Revenue in the period totaled $2.86 billion, which topped the $2.72 billion forecast on Wall Street.
Strong Beauty Sales
Ulta Beauty is benefiting as consumers continue to spend money on cosmetics. In the company’s Q3 earnings statement, CEO Kecia Steelman said “exciting assortment newness, improved in-store and digital experiences, and bold marketing efforts are resonating with our guests and drove strong sales results.”
On an earnings call with analysts and media, the CEO added that Ulta is “pleased with our Black Friday and Cyber Monday performance” and expects strong sales during the shopping season that continues throughout December.
Is ULTA Stock a Buy?
Ulta Beauty’s stock has a consensus Moderate Buy rating among 20 Wall Street analysts. That rating is based on 13 Buy, six Hold, and one Sell recommendations issued in the last three months. The average ULTA price target of $611.35 implies 1.28% upside from current levels.
