These Analysts Revise Their Forecasts On Ulta Beauty After Q2 Results
Portfolio Pulse from Lisa Levin
Ulta Beauty reported better-than-expected Q2 earnings with a 10.1% YoY increase in revenue to $2.53 billion, beating the consensus estimate of $2.51 billion. The company also raised its full-year 2023 revenue and earnings guidance. However, its shares fell 3.4% to trade at $408.28 on Friday. Post earnings, analysts from Raymond James, Deutsche Bank, Wells Fargo, and Baird revised their price targets on Ulta Beauty.
August 25, 2023 | 2:52 pm
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Ulta Beauty's better-than-expected Q2 earnings and raised FY2023 guidance were followed by a 3.4% fall in its share price. Analysts from Raymond James, Deutsche Bank, Wells Fargo, and Baird revised their price targets on the company.
Despite reporting better-than-expected earnings and raising its full-year guidance, Ulta Beauty's shares fell, indicating a negative market reaction. The revised price targets by analysts post earnings also suggest a mixed outlook for the company, which could impact its short-term stock performance.
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