Ulta Beauty (NASDAQ:ULTA) Price Target Cut to $731.00 by Analysts at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group cut its price target on Ulta Beauty to $731 from $799, while keeping a buy rating. The new target still implies about 56% upside from the stock’s current price.
• Ulta shares fell 5.5% to about $467.79 after the report, and the stock has traded between $452.00 and $714.97 over the past 52 weeks. The average analyst rating remains Moderate Buy with an average target of $651.27.
• Despite the lower price target, Ulta recently posted a Q1 earnings beat, with EPS of $7.74 and revenue of $3.16 billion both above estimates. The company also raised its fiscal 2026 EPS guidance to $28.36-$28.80.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) had its price objective cut by investment analysts at Canaccord Genuity Group from $799.00 to $731.00 in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The brokerage currently has a "buy" rating on the specialty retailer's stock. Canaccord Genuity Group's target price indicates a potential upside of 56.27% from the company's current price.

A number of other equities research analysts have also commented on the stock. DA Davidson dropped their price objective on shares of Ulta Beauty from $650.00 to $585.00 and set a "buy" rating on the stock in a report on Wednesday. Robert W. Baird lowered their price target on shares of Ulta Beauty from $730.00 to $700.00 and set an "outperform" rating on the stock in a research note on Wednesday. Zacks Research lowered shares of Ulta Beauty from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 6th. Evercore set a $725.00 price target on shares of Ulta Beauty in a research note on Wednesday, March 11th. Finally, TD Cowen started coverage on shares of Ulta Beauty in a research note on Monday, April 20th. They issued a "buy" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Ulta Beauty presently has an average rating of "Moderate Buy" and an average target price of $651.27.

Ulta Beauty Stock Down 5.5%

ULTA stock traded down $27.09 during midday trading on Wednesday, reaching $467.79. The company's stock had a trading volume of 1,726,983 shares, compared to its average volume of 696,073. Ulta Beauty has a 52 week low of $452.00 and a 52 week high of $714.97. The stock has a market cap of $20.38 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.63 and a beta of 0.86. The business's 50-day simple moving average is $525.01 and its 200-day simple moving average is $585.92.

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

Insider Transactions at Ulta Beauty

In other 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 value of $243,759.08. Following the completion of the transaction, the director directly owned 2,383 shares in the company, valued at approximately $1,285,128.07. This trade represents a 15.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.39% of the company's stock.

Hedge Funds Weigh In On Ulta Beauty

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bowen Hanes & Co. Inc. purchased a new stake in shares of Ulta Beauty during the third quarter worth about $6,012,000. Norges Bank purchased a new stake in shares of Ulta Beauty during the fourth quarter worth about $430,963,000. Intech Investment Management LLC grew its stake in shares of Ulta Beauty by 135.6% during the third quarter. Intech Investment Management LLC now owns 6,506 shares of the specialty retailer's stock worth $3,557,000 after acquiring an additional 3,744 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Ulta Beauty by 979.1% during the third quarter. Allianz Asset Management GmbH now owns 74,201 shares of the specialty retailer's stock worth $40,569,000 after acquiring an additional 67,325 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. acquired a new stake in shares of Ulta Beauty during the third quarter worth about $1,008,000. 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 posted a strong Q1 beat, with EPS of $7.74 and revenue of $3.16 billion, both above Wall Street estimates, while comparable sales rose 5.3%. Ulta Beauty Announces First Quarter Fiscal 2026 Results and Updates Fiscal 2026 Guidance
• Positive Sentiment: Management raised fiscal 2026 EPS guidance to $28.36-$28.80 and lifted the share repurchase target to $1.5 billion, signaling confidence in cash generation and shareholder returns. Ulta Beauty raises annual profit forecast on higher-priced product demand
• Positive Sentiment: Analysts at JPMorgan, Barclays, and Baird all kept bullish ratings, even as they trimmed price targets, implying continued upside from recent levels. Benzinga analyst price target updates
• Positive Sentiment: Ulta’s prestige and higher-end beauty business continued to perform well, and the company highlighted broad-based growth across channels and categories. Ulta’s prestige beauty shines despite consumer pressure
• Neutral Sentiment: Ulta and Klarna announced a flexible-payments partnership for U.S. online and app shoppers, which could support conversion but is not a major earnings driver yet. Klarna and Ulta Beauty Partner to Bring Flexible Payments to U.S. Beauty Shoppers
• Negative Sentiment: Several analysts lowered price targets after the report, including JPMorgan to $631, Barclays to $647, and Baird to $700, reflecting more cautious expectations following the run-up in the shares. Benzinga price target cuts
• Negative Sentiment: Some investors appear to be selling the news, with commentary pointing to concerns about margin durability, inventory growth, and only limited guidance upside versus the strong quarterly beat. 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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