Barclays Upgrade: Barclays upgraded Ulta Beauty's stock rating from equal weight to overweight, raising the price target from $518 to $589 due to a positive outlook for shares.
Analyst Insights: Analyst Adrienne Yih predicts a 13% upside from Ulta's recent stock close, citing potential earnings revisions and positive changes under new CEO Kecia Steelman.
Market Position: Ulta is positioned uniquely as one of two major multi-brand beauty retailers in the U.S., alongside Sephora, benefiting from a stabilizing beauty market with mid-single-digit growth rates.
Minimal Tariff Risk: The company faces negligible tariff risks as only about 1% of its merchandise is imported, primarily relying on domestic sources for most of its beauty and personal care products.
ULTA
$589.27+Infinity%1D
Analyst Views on ULTA
Wall Street analysts forecast ULTA stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for ULTA is 588.64 USD with a low forecast of 450.00 USD and a high forecast of 680.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
13 Analyst Rating
Wall Street analysts forecast ULTA stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for ULTA is 588.64 USD with a low forecast of 450.00 USD and a high forecast of 680.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Buy
4 Hold
1 Sell
Moderate Buy
Current: 591.200
Low
450.00
Averages
588.64
High
680.00
Current: 591.200
Low
450.00
Averages
588.64
High
680.00
Oppenheimer
Rupesh Parikh
Outperform
maintain
$615 -> $675
2025-12-10
Reason
Oppenheimer
Rupesh Parikh
Price Target
$615 -> $675
2025-12-10
maintain
Outperform
Reason
Oppenheimer analyst Rupesh Parikh raised the firm's price target on Ulta Beauty to $675 from $615 and keeps an Outperform rating on the shares. Following Ulta's well above expectation Q3 delivery and with shares approaching the firm's previous price target, Oppenheimer spent time revisiting the upside case and its investment views. Based on its work, the firm now believes the Ulta bull run is likely more in the middle innings following major outperformance lately. However, management initiatives and efforts to drive sustained top-line momentum still appear to us to be in the early innings. Oppenheimer maintains the name as a top pick into 2026 and remains confident in the company's ability to lap more difficult compares as the year unfolds.
B. Riley
B. Riley
Neutral
maintain
$530 -> $600
2025-12-08
Reason
B. Riley
B. Riley
Price Target
$530 -> $600
2025-12-08
maintain
Neutral
Reason
B. Riley raised the firm's price target on Ulta Beauty to $600 from $530 and keeps a Neutral rating on the shares. The company reported "strong" fiscal Q3 results amid continued share gains across both mass and prestige beauty, the analyst tells investors in a research note. However, Riley believes the positives are "fully baked" into the stock at current levels. It awaits a more attractive entry point before commending the shares.
TD Cowen
Hold -> Buy
upgrade
$600 -> $725
2025-12-08
Reason
TD Cowen
Price Target
$600 -> $725
2025-12-08
upgrade
Hold -> Buy
Reason
TD Cowen upgraded Ulta Beauty to Buy from Hold with a price target of $725, up from $600. The firm sees the new CEO and management team driving stronger merchandising, "disciplined" promotions and global growth. Ulta has positive long-term growth prospects with its 46M people loyalty program in the "resilient" beauty market, the analyst tells investors in a research note. TD believes the stock's valuation offers upside.
Morgan Stanley
Overweight
maintain
$600 -> $640
2025-12-07
Reason
Morgan Stanley
Price Target
$600 -> $640
2025-12-07
maintain
Overweight
Reason
Morgan Stanley raised the firm's price target on Ulta Beauty to $640 from $600 and keeps an Overweight rating on the shares following the fiscal Q3 report. The firm says the company's investments are paying off and its momentum should continue in Q4. It sees Ulta's "healthy" comps, continued market share gains, and operating leverage from moderating costs driving additional share upside.
About ULTA
Ulta Beauty, Inc. is a specialty United States beauty retailer and the premier beauty destination for cosmetics, fragrance, skincare products, haircare products and salon services. The Company operates approximately 1,451 retail stores across 50 states and distributes products through its Website, which includes a collection of tips, tutorials, and social content. The Company’s business includes a differentiated assortment of approximately 29,000 beauty products across a variety of categories and price points, as well as a variety of beauty services, including salon services, in more than 1,400 stores predominantly located in convenient, high-traffic locations. It also offers digital experiences delivered through its Website, Ulta.com, and its mobile applications. The Company’s brands include Ulta Beauty Collection, about-face, Ariana Grande, CHANEL, FENTY BEAUTY by Rihanna, It Cosmetics, LolaVie, OUAI, PAT McGRATH LABS, Tula, and NYX Professional Makeup.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
