What's Going On With Ulta Beauty Stock?
Portfolio Pulse from Erica Kollmann
Ulta Beauty, Inc. (NASDAQ: ULTA) stock is trading higher after reporting Q3 earnings of $5.07 per share, surpassing estimates of $4.95, and sales of $2.49 billion, exceeding the $2.47 billion estimate. The company also updated its fiscal year net sales forecast to $11.10-$11.15 billion. Analysts at Wells Fargo, DA Davidson, and Citigroup have updated their price targets for ULTA following the earnings report, with varying recommendations.
December 01, 2023 | 5:41 pm
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Ulta Beauty reported strong Q3 results with earnings and sales beating estimates, leading to an increase in stock price. The company also revised its fiscal year sales outlook, and analysts have updated their price targets.
Ulta Beauty's positive earnings report and raised guidance are significant indicators of the company's performance, likely leading to increased investor confidence and a positive short-term impact on the stock price. Analysts' raised price targets further support the stock's upward momentum.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100