Ulta Beauty Holds Moderate Buy Rating as Wall Street Boosts Targets

Ulta Beauty, Inc. (NASDAQ:ULTA) continues to see broad support across Wall Street, earning a consensus rating of Moderate Buy from 32 research firms, according to MarketBeat. A total of 23 analysts give the retailer a buy rating, one recommends a strong buy, and eight assign a hold. The average 12-month target price among covering brokers stands at $635.87.

Analyst revisions have reflected shifting views on Ulta Beauty's valuation. Citigroup raised its price objective to $685.00 from $580.00 while reiterating a neutral rating. TD Cowen initiated coverage with a strong-buy rating, and Weiss Ratings moved its assessment to hold (c+) from hold (c). Meanwhile, Barclays lowered its target from $647.00 to $645.00 while keeping an overweight stance. Ulta Beauty also carries a Zacks Rank #2 (Buy).

The retailer has recently expanded its product portfolio through multiple commercial partnerships. Skincare brand Glow Recipe introduced its eye masks at the retailer, and Korean skincare line Abib is expanding across more than 300 Ulta locations. Clöud Café is doubling its store footprint, while DECORTÉ skincare is entering select doors. Ulta also revealed plans to offer WHOOP fitness devices starting in March 2027 and launched a holiday marketing push featuring Selena Gomez and Tate McRae.

Institutional shareholders continue to adjust their investments in the beauty retailer. Regulatory filings show Pictet Asset Management Holding SA reduced its position by 3.8% in the third quarter to 216,086 shares, and Sumitomo Mitsui Trust Group Inc. trimmed its stake by 3.2% to 100,139 shares. Conversely, International Assets Investment Management LLC raised its position by 512,509.0% to 6,464,000 shares during the same quarter. Institutional entities hold 90.39% of the retailer's total stock.

Investors are looking toward the company's next financial release scheduled for December 3, 2026. Ulta Beauty previously reported quarterly earnings per share of $6.55 on revenue of $3.04 billion, beating expectations of $6.22 per share and $2.99 billion. Ulta's full-year fiscal 2026 outlook projects earnings between $28.70 and $29.00 per share.