These Analysts Boost Their Forecasts On Ulta Beauty Following Q4 Results
Portfolio Pulse from Avi Kapoor
Ulta Beauty Inc (NASDAQ:ULTA) reported Q4 earnings surpassing estimates with a 10.2% year-over-year revenue increase to $3.55 billion and earnings of $8.08 per share. The company forecasts FY 2024 revenue between $11.7 billion and $11.8 billion, exceeding estimates. Despite positive results, shares fell 6.7% in pre-market trading. Analysts from Barclays, Baird, and Piper Sandler raised their price targets on ULTA following the earnings report.
March 15, 2024 | 12:10 pm
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Ulta Beauty reported higher than expected Q4 earnings and revenue, with optimistic FY 2024 forecasts. Shares fell 6.7% pre-market despite positive analyst revisions.
Despite Ulta Beauty's positive earnings report and optimistic future revenue projections, the stock price fell in pre-market trading. This could be due to market expectations already pricing in the positive results or concerns about future growth sustainability. Analysts' increased price targets reflect confidence in the company's performance, but the immediate negative stock price reaction suggests short-term market skepticism.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100