Ulta Beauty (NASDAQ:ULTA) Given New $685.00 Price Target at Citigroup

07 Nov 2026, 13:24 by Doug Wharley · The Cerbat Gem

Ulta Beauty (NASDAQ:ULTA – Free Report) had its price target raised by Citigroup from $580.00 to $685.00 in a research report released on Friday,Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

Several other research analysts also recently commented on the company. Raymond James Financial downgraded Ulta Beauty from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 15th. Barclays dropped their target price on Ulta Beauty from $647.00 to $645.00 and set an “overweight” rating for the company in a report on Friday, August 28th. Bank of America reduced their price target on Ulta Beauty from $685.00 to $650.00 and set a “buy” rating on the stock in a research report on Friday, August 28th. FBN Securities began coverage on Ulta Beauty in a research note on Tuesday, September 15th. They issued an “outperform” rating on the stock. Finally, William Blair reiterated a “market perform” rating on shares of Ulta Beauty in a research report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $635.87.

Read Our Latest Analysis on ULTA

Ulta Beauty Stock Performance

ULTA traded down $5.04 on Friday, reaching $644.76. The company had a trading volume of 395,994 shares, compared to its average volume of 473,879. Ulta Beauty has a 52-week low of $443.60 and a 52-week high of $714.97. The company has a market cap of $27.57 billion, a price-to-earnings ratio of 23.50, a P/E/G ratio of 1.91 and a beta of 0.83. The business has a 50 day simple moving average of $575.78 and a 200 day simple moving average of $553.76.

Ulta Beauty (NASDAQ:ULTA – Get Free Report) last released its quarterly earnings results on Thursday, August 27th. The specialty retailer reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $6.22 by $0.33. Ulta Beauty had a net margin of 9.34% and a return on equity of 45.40%. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the previous year, the company earned $5.78 EPS. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. Ulta Beauty has set its FY 2026 guidance at 28.700-29.000 EPS. As a group, equities research analysts predict that Ulta Beauty will post 28.95 EPS for the current fiscal year.

Insider Transactions at Ulta Beauty

In related news, CEO Kecia Steelman sold 2,000 shares of the business’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $545.88, for a total transaction of $1,091,760.00. Following the transaction, the chief executive officer owned 40,489 shares in the company, valued at $22,102,135.32. The trade was a 4.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lorna Nagler sold 600 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $537.31, for a total value of $322,386.00. Following the completion of the sale, the director owned 7,168 shares of the company’s stock, valued at approximately $3,851,438.08. This trade represents a 7.72% decrease in their position. The SEC filing for this sale provides additional information. 0.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Ulta Beauty

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its holdings in Ulta Beauty by 28.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 106,966 shares of the specialty retailer’s stock worth $57,519,000 after purchasing an additional 23,766 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in shares of Ulta Beauty during the 3rd quarter worth approximately $36,000. Kestra Private Wealth Services LLC grew its holdings in shares of Ulta Beauty by 14.0% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 8,037 shares of the specialty retailer’s stock worth $4,390,000 after acquiring an additional 990 shares during the period. Chicago Partners Investment Group LLC raised its position in shares of Ulta Beauty by 52.0% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,827 shares of the specialty retailer’s stock worth $1,141,000 after acquiring an additional 625 shares in the last quarter. Finally, Integrity Alliance LLC. raised its position in shares of Ulta Beauty by 3.2% in the 3rd quarter. Integrity Alliance LLC. now owns 615 shares of the specialty retailer’s stock worth $336,000 after acquiring an additional 19 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

Key Headlines Impacting Ulta Beauty

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

Positive Sentiment: Korean skincare brand Abib is expanding into more than 300 Ulta stores, and Clöud Café is doubling its Ulta presence with a K-wellness endcap. The added brands could broaden Ulta’s assortment and support customer traffic, though the announcements did not quantify expected sales. Abib expands US presence with launch in 300+ Ulta Beauty stores Clöud Café doubles Ulta Beauty presence
Positive Sentiment: Ulta announced a partnership to bring DECORTÉ skincare to select stores and unveiled a holiday campaign featuring Selena Gomez, Tate McRae and Mrs. Claus. These moves may help refresh its offering and attract shoppers during the holiday season. DECORTÉ partnership announcement Ulta Beauty holiday campaign
Neutral Sentiment: Citigroup raised its price target to $685 from $580, implying about 6.2% upside from the cited $644.76 share price, but maintained a “neutral” rating. The higher target is a more favorable valuation view, not a bullish rating change. Citigroup stock recommendations
Negative Sentiment: An opinion article characterized Black women’s departure to Ulta salons as a warning. It may point to customer-retention or service concerns, but the headline alone does not establish the scale or financial impact. Opinion article on Ulta salons

About Ulta Beauty

(Get Free Report)

Ulta Beauty, Inc is a specialty beauty retailer offering cosmetics, skincare, fragrance, haircare and related products. Its assortment includes both mass-market and prestige brands, as well as products sold under its own private-label brands.

The company serves customers primarily through its retail stores across the United States and its e-commerce channels. Many stores also offer salon services, including haircuts, styling and hair color, alongside beauty products and services.