Ulta Beauty, IncNasdaq: ULTA
Consumer Discretionary · Other Specialty Retail
$548.97
-0.88%
Vol: 74K
Research Digest
Friday, June 19, 2026
Ulta Beauty beats Q1 estimates with 11.1% revenue growth and raises full-year EPS guidance.
Ulta Beauty reported Q1 fiscal 2026 results on June 2, 2026, with net sales up 11.1% to $3.2 billion, driven by comparable sales growth of 5.3% (3.7% higher average ticket + 1.6% transaction growth), the Space NK acquisition, and 70 net new store openings since May 2025. Diluted EPS rose 15.5% to $7.74, beating consensus on both top and bottom lines, with fragrances the standout category (growing to 12% of revenue). The company reaffirmed its full-year revenue guidance and raised full-year EPS guidance, and repurchased 958,323 shares at a cost of $555 million in the quarter. Ulta's Big Summer Sale launches June 19 through July 11, offering up to 40% off select categories, which could provide a near-term traffic catalyst. The primary risk is macro-driven softness in discretionary beauty spend or competitive pressure from Sephora/Amazon.
Previous Market Intelligence
13 daysJun 18No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 17No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 16No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14No significant overnight updatesNeutral▶
No material news in the last 48 hours. Recent catalysts (Q1 FY26 earnings beat and raised guidance on June 2, analyst PT raised ~$62 to ~$478, Times Square flagship plans, Uber Eats delivery) predate the window.
May 21Ulta Beauty drops 1.9% on April CPI inflation print of 3.8% ahead of June 2 earningsMixed▶
Ulta Beauty stock declined 1.9% to $481.56 (as of May 19, 2026) after the April Consumer Price Index registered at 3.8%, the highest reading in nearly three years, confirming tariffs and oil will push retail prices higher. The company is set to report Q1 FY26 results on June 2 after market close. Recent positive catalysts include the Uber Eats partnership expanding same-day delivery to 1,500+ stores, the Google Gemini AI shopping experience integration, and a Jefferies upgrade to Buy with $700 PT on revitalized beauty cycle and improved merchandising. Stock is down ~3% past month, ~26% past 3 months. Risk: consumer discretionary tariff pass-through pressure as upcoming earnings approach.
May 20Ulta Beauty rallies on Jefferies upgrade to Buy with $700 PT amid Google AI partnership and Uber Eats expansionPositive▶
Ulta Beauty was upgraded to Buy by Jefferies with a $700 price target, reflecting optimism around a revitalized beauty cycle and improved merchandising execution. The retailer is gaining traction through its partnership with Google launching AI-driven shopping experiences, and added more than 1,500 stores to the Uber Eats marketplace. Bank of America highlighted Ulta building a "flywheel to drive growth" on May 5, while Citi maintained a Hold rating May 12. YipitData also announced a partnership with Ulta. Shares closed at $492.22 recently, slipping 1.9% in one afternoon session after April CPI hit a near 3-year high of 3.8%. Earnings are due June 2, 2026 with consensus EPS of $6.90 and revenue of $3.08B.
May 19No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 18Ulta Beauty announces Uber Eats partnership across 1,500+ stores; Jefferies upgrades to Buy with $700 PTPositive▶
Ulta Beauty launched a partnership with Uber Eats just in time for Mother's Day, bringing more than 1,500 stores onto the platform for same-day and scheduled beauty delivery. On May 11, AG1 announced its first-ever beauty retailer partnership with Ulta, rolling out science-backed wellness products across stores and online. Jefferies upgraded the stock to Buy with a $700 price target, citing a revitalized beauty cycle and improved merchandising. Shares declined 1.9% on May 13 after April CPI hit 3.8%, a near three-year high. Ulta provided FY 2026 guidance of 6.0%-7.0% net sales growth and 9.4%-11.4% diluted EPS growth. Stock was around $493.79 on May 17, down approximately 3% over the past month.
May 15Ulta Beauty extended an on-demand delivery partnership with Uber Eats across 1,500+ stores nationwide while Bank of America upgraded shares to Buy with a $685 target after a 26% pullback.Positive▶
In mid-May 2026, Ulta Beauty rolled out its Uber Eats partnership across more than 1,500 stores nationwide, opening on-demand delivery of beauty, skincare, fragrance, and tools just ahead of Mother's Day. Bank of America analyst Lorraine Hutchinson upgraded ULTA to Buy from Neutral with a $685 price target, arguing conservative FY26 guidance reset expectations into an attractive entry point. Jefferies followed with an upgrade to Buy and a $700 target. The company also announced plans for a new 395,000 sq ft Utah distribution center to support 180 stores. Shares traded near $498-505 on May 13-14, still down ~26% over three months. Risk: cautious FY26 outlook and competitive prestige beauty pressures linger.
May 14Ulta launched AG1 wellness partnership and Uber Eats nationwide delivery on May 11-12, broadening retail reachMixed▶
Ulta announced two major distribution expansions in early May 2026: AG1 launches in 1,500+ stores marking AG1 first beauty retailer partnership (May 11), and Uber Eats integration enabling on-demand delivery from 1,500+ Ulta stores covering 600+ brands (May 12). Stock fell ~1.9% intra-day after April CPI of 3.8% raised tariff/inflation concerns; shares trading ~$493 on May 13, down 26% over 3 months. Jefferies recently upgraded to Buy with $700 PT citing a makeup cycle revival, with makeup ~38% of total sales. FY26 guidance: net sales growth 6-7%, EPS growth 9.4-11.4%. Risk: tariff pass-through to prices and consumer discretionary softness.
May 13AG1 launched at over 1,500 Ulta Beauty stores on May 11 in AG1's first beauty retailer partnership, while shares fell 1.9% on May 12 after April CPI hit 3.8%.Mixed▶
On May 11, 2026, AG1 announced its first partnership with a beauty retailer, launching at more than 1,500 Ulta Beauty stores and on ulta.com. On May 12, shares fell 1.9% after April CPI hit 3.8%, the highest reading in nearly three years. Earlier in May, Bank of America commented Ulta is building a flywheel to drive growth. Jefferies upgraded to Buy with a $700 target. Stock is down 18% YTD and trading 28% below 52-week high of $706.82. FY 2026 guidance: net sales growth 6.0%-7.0%, diluted EPS growth 9.4%-11.4%.
May 12BofA upgraded Ulta Beauty to Buy with $685 PT and Jefferies upgraded to Buy with $700 PT, citing reset expectations after FY26 guidance and 26% pullback from highs.Positive▶
Bank of America analyst Lorraine Hutchinson upgraded Ulta Beauty to Buy from Neutral with a $685 price target on May 5, 2026, arguing conservative FY26 guidance has reset expectations and created an attractive entry into a high-quality compounder. Jefferies also upgraded to Buy with a $700 price target, citing optimism around a revitalized beauty cycle and improved merchandising. FY 2026 guidance calls for 6-7% net sales growth and 9.4-11.4% diluted EPS growth, with $890.5M returned via planned buybacks. Strategic initiatives include a Google AI-driven shopping partnership and adding 1,500+ Ulta stores to Uber Eats. Shares traded around $526.53 on May 8.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| ULTAULTA | $548.97 | -0.88% | -0.7% | 17.3x | 0.85 | $23.7B |
| TSCOTRACTOR | $32.63 | -0.65% | +1.6% | 16.0x | 0.47 | $17.1B |
| AMZNAMAZON.COM | $249.88 | -2.00% | -1.3% | 24.5x | 1.44 | $2.75T |
| TSLATESLA | $380.41 | +0.40% | +1.0% | 172.4x | 1.84 | $1.50T |
| HDHOME | $299.51 | -1.91% | +2.7% | 19.1x | 0.95 | $304.6B |
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