What's Going On With Ulta Beauty Stock Wednesday?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 16 2024
0mins
Source: Benzinga
Ulta Beauty's Business Strategy: Ulta Beauty is focusing on profitable growth through a long-term strategy that includes opening over 1,800 new stores and expanding its loyalty program to 50 million members by 2028, while adjusting its fiscal year 2024 sales guidance down to $11.0 billion - $11.2 billion.
Financial Performance and Share Repurchase: The company has reduced its earnings per share guidance for FY24 and announced a new $3.0 billion share repurchase authorization, as it anticipates transitional years ahead but aims for sustainable growth and shareholder value in the long term.
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 647.83 USD with a low forecast of 450.00 USD and a high forecast of 780.00 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.
22 Analyst Rating
15 Buy
6 Hold
1 Sell
Moderate Buy
Current: 681.640
Low
450.00
Averages
647.83
High
780.00
Current: 681.640
Low
450.00
Averages
647.83
High
780.00
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.
