Ulta Beauty Inc (NASDAQ:ULTA) stock reached a new 52-week high at $496.73, reflecting a 21.52% gain over the past year. The beauty retailer’s robust performance is supported by $11.4 billion in sales over the last twelve months and effective strategic initiatives that have resonated well with consumers. This milestone highlights investor confidence in Ulta’s ability to sustain growth and navigate a competitive retail environment.
In recent updates, DA Davidson raised its price target to $550 from $485, maintaining a Buy rating, citing improved product differentiation. BofA Securities also lifted its target to $500 from $455, expecting Ulta to outperform in the second half of the fiscal year despite anticipated margin pressures. Citi held a neutral rating with a $450 target after CFO Paula Oyibo’s sudden departure, with Chris Lialios appointed interim CFO while the company searches for a permanent CFO with international experience to support expansion plans. William Blair reiterated a Market Perform rating, noting limited upside due to current valuation, while Evercore ISI maintained an Outperform rating with a $490 target, viewing the CFO search as a positive step.
These developments underscore Ulta Beauty’s strong position and ongoing efforts to drive future growth in the beauty retail sector.