Ulta's Strategic Moves And Market Share Poise Spark Optimism, Analysts Elevate Forecasts Post-Q4 Triumph
Portfolio Pulse from Nabaparna Bhattacharya
Ulta Beauty, Inc. (NASDAQ:ULTA) received updated forecasts from analysts following its Q4 earnings report, which showed a 10.2% year-over-year revenue increase to $3.55 billion, surpassing estimates. Stifel analyst Mark S. Astrachan raised his forecast to $565 from $505, maintaining a Hold rating. Oppenheimer analyst Rupesh Parikh, viewing Ulta as a top pick, raised his FY24 EPS projection to $26.45 and set a price target of $600, citing international expansion plans and innovation. Despite positive analyst outlooks, ULTA shares dropped 4.29% to $541.16.
March 15, 2024 | 7:05 pm
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Ulta Beauty, Inc. sees analyst forecasts rise following a strong Q4 report, with revenue up 10.2% YOY to $3.55 billion. Stifel raises target to $565, Oppenheimer to $600, citing growth and innovation.
The positive revisions in forecasts and price targets from analysts following Ulta's Q4 earnings highlight strong performance and growth prospects. Despite the short-term stock price drop, the analyst optimism and upward revisions in forecasts suggest a positive outlook for ULTA's future performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100