JPMorgan Chase & Co. Cuts Ulta Beauty (NASDAQ:ULTA) Price Target to $631.00

Key Points

• JPMorgan Chase & Co. cut Ulta Beauty’s price target from $750 to $631 while keeping an overweight rating, implying about 33% upside from the current price.
• Other analysts were also active on the stock: Morgan Stanley set a $630 target, Robert W. Baird lowered its target to $700, and the broader consensus remains Moderate Buy with an average target of $658.48.
• Ulta reported a strong quarter, with EPS of $7.74 and revenue of $3.16 billion, both above estimates, but the stock fell sharply on the day and traded at $472.97 amid investor caution about the outlook.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $750.00 to $631.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the specialty retailer's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 33.41% from the company's current price.

Several other research firms also recently weighed in on ULTA. Loop Capital restated a "hold" rating and issued a $550.00 price target on shares of Ulta Beauty in a research note on Wednesday. Guggenheim started coverage on Ulta Beauty in a research note on Monday, April 20th. They issued a "buy" rating on the stock. TD Cowen started coverage on Ulta Beauty in a research note on Monday, April 20th. They issued a "buy" rating on the stock. Robert W. Baird cut their price target on Ulta Beauty from $730.00 to $700.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, Morgan Stanley restated an "overweight" rating and issued a $630.00 price target on shares of Ulta Beauty in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Ulta Beauty presently has a consensus rating of "Moderate Buy" and an average price target of $658.48.

Ulta Beauty Price Performance

ULTA stock traded down $21.90 during trading on Wednesday, reaching $472.97. The company had a trading volume of 1,335,917 shares, compared to its average volume of 692,140. Ulta Beauty has a 52 week low of $452.00 and a 52 week high of $714.97. The company has a market cap of $20.60 billion, a P/E ratio of 18.45, a PEG ratio of 1.63 and a beta of 0.86. The business has a 50 day moving average of $525.01 and a 200 day moving average of $585.92.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its quarterly earnings results on Tuesday, June 2nd. The specialty retailer reported $7.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.89 by $0.85. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.12 billion. Ulta Beauty had a net margin of 9.31% and a return on equity of 43.56%. Ulta Beauty's revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $6.70 earnings per share. Ulta Beauty has set its FY 2026 guidance at 28.360-28.800 EPS. Research analysts expect that Ulta Beauty will post 28.49 earnings per share for the current year.

Insider Buying and Selling at Ulta Beauty

In related news, Director George R. Mrkonic, Jr. sold 452 shares of the firm's stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $539.29, for a total transaction of $243,759.08. Following the completion of the sale, the director owned 2,383 shares of the company's stock, valued at $1,285,128.07. This trade represents a 15.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ulta Beauty

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fideuram Asset Management Ireland dac purchased a new stake in Ulta Beauty in the fourth quarter worth approximately $25,000. Hilton Head Capital Partners LLC boosted its holdings in Ulta Beauty by 860.0% in the first quarter. Hilton Head Capital Partners LLC now owns 48 shares of the specialty retailer's stock worth $25,000 after purchasing an additional 43 shares during the last quarter. Strengthening Families & Communities LLC boosted its holdings in Ulta Beauty by 4,200.0% in the fourth quarter. Strengthening Families & Communities LLC now owns 43 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 42 shares during the last quarter. Ascentis Independent Advisors purchased a new position in shares of Ulta Beauty during the 1st quarter worth $29,000. Finally, Nalls Sherbakoff Group LLC purchased a new position in shares of Ulta Beauty during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

More Ulta Beauty News

Here are the key news stories impacting Ulta Beauty this week:

• Positive Sentiment: Ulta beat fiscal Q1 expectations on both revenue and earnings, with EPS of $7.74 and sales of $3.16 billion, helped by 11.1% year-over-year revenue growth and 5.3% comparable sales growth. Ulta Beauty beats Q1 estimates, shares fall on muted full-year outlook
• Positive Sentiment: The company raised its fiscal 2026 EPS guidance to $28.36-$28.80 from $28.05-$28.55, and also increased its buyback target to $1.5 billion, signaling confidence in cash flow and capital returns. Ulta Beauty Raises Fiscal 2026 Earnings Outlook Following First-Quarter Beat
• Neutral Sentiment: Analysts at Barclays and Robert W. Baird trimmed price targets to $647 and $700, respectively, but both kept bullish ratings, suggesting views remain constructive despite some caution on valuation. Benzinga analyst price target updates
• Negative Sentiment: Despite the strong quarter, the stock sold off as the market reacted to the guidance lift being relatively modest versus the earnings beat, implying some investors wanted a more aggressive outlook upgrade. Ulta Beauty beats Q1 estimates, shares fall on muted full-year outlook

About Ulta Beauty

Ulta Beauty, Inc NASDAQ: ULTA is a U.S.-based specialty retailer and beauty services provider focused on cosmetics, fragrance, skin care, hair care, bath and body, and beauty tools. The company operates a dual-format business that combines brick-and-mortar retail stores with an e-commerce platform, offering a broad assortment of national, prestige and mass-market brands alongside its own private-label products. In many locations Ulta also provides full-service salon treatments, positioning the company as a one-stop destination for product discovery and in-store services.

The retailer's product mix spans color cosmetics, haircare and styling products, skin and body care, fragrance, and accessories, catering to a wide range of consumer preferences and price points.

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