ULTA - Ulta's Strategic Moves And Market Share Poise Spark Optimism Analysts Elevate Forecasts Post-Q4 Triumph | Benzinga
Stifel analyst Mark S. Astrachan reiterated the Hold rating on Ulta Beauty, Inc. (NASDAQ:ULTA), raising the forecast to $565 from $505.
Yesterday, Ulta Beauty reported fourth-quarter revenue that increased 10.2% year-over-year to $3.55 billion and beat the consensus estimate of $3.53 billion.
Category growth, promotional activity, and competition are the main watchpoints for the just-reported fourth quarter by Ulta, the analyst writes.
For 2024, Ulta anticipates U.S. beauty category growth to moderate to mid-single-digits, with comp growth suggesting the company will maintain its share.
Also Read: These Analysts Boost Their Forecasts On Ulta Beauty Following Q4 Results
According to Astrachan, this reflects some conservatism but also competitive dynamics, including ...