Analysts Lower Ulta Beauty Price Targets Amid Mixed Q4 Results

Ulta Beauty recently reported stronger-than-expected fourth-quarter results with revenues of $3.49 billion and earnings per share of $8.46, surpassing analyst projections. Despite the positive results, several financial analysts have adjusted their price targets downward: BMO Capital Markets lowered its target from $467 to $404, while Stifel reduced its target from $475 to $400, maintaining a Hold rating. Morgan Stanley also cut its target from $500 to $460 but kept an Overweight rating, suggesting that the company's conservative fiscal year 2025 guidance may provide an upside opportunity. Conversely, Wells Fargo lowered its target from $360 to $310, citing ongoing concerns about comparable sales and margins. Overall, analysts have mixed views on Ulta, with a consensus rating of Hold and varying target prices reflecting uncertainty about the company's future performance in the competitive beauty market. Despite these fluctuations, CEO Kecia Steelman expressed optimism about Ulta's long-term strategy and business model.