Ulta Beauty, IncNasdaq: ULTA
Consumer Discretionary · Other Specialty Retail
$471.02
-6.55%
Vol: 58K
Research Digest
Monday, June 15, 2026
No significant overnight updates
No material news in the last 48 hours.
Previous Market Intelligence
13 daysJun 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.
May 11Bank of America upgraded Ulta Beauty to Buy with $685 PT on May 5; Jefferies raised PT to $700Positive▶
On May 5, 2026, Bank of America analyst Lorraine Hutchinson upgraded Ulta Beauty to Buy from Neutral with a $685 price target, arguing that conservative fiscal 2026 guidance has reset expectations and created an attractive entry point with shares trading roughly 26% off the 52-week high. Jefferies also upgraded to Buy and raised PT to $700, citing a revitalized beauty cycle and improved merchandising execution. FY 2026 guidance calls for net sales growth of 6.0%-7.0% and diluted EPS growth of 9.4%-11.4%. Q4 FY2026 results showed EPS of $8.01 vs. $7.15 expected on $3.9 billion revenue (up 12% YoY) with comp sales up 6%. Strategic moves include a Google AI shopping partnership and Uber Eats listing more than 1,500 Ulta stores. The company returned $890.5 million of capital via buybacks. This matters because two major firms upgraded on the same week, validating a turn.
May 8Bank of America upgrades Ulta Beauty to Buy on high-quality growth; partnership with Uber Eats expands distribution.Positive▶
Bank of America analyst Lorraine Hutchinson upgraded Ulta Beauty to Buy from Neutral on May 5 with a $685 price target, citing the 26% pullback as an opportunity to buy a high-quality compounder at a discount. Q4 FY2026 earnings beat estimates with $8.01 EPS (12% above consensus) on $3.9B revenue and 6% comparable sales growth. Ulta partnered with Uber Eats to make 1,500+ stores available through the platform with same-day or scheduled delivery. Jefferies also upgraded to Buy with $700 target. Full-year revenue grew 9.7% to $12.39B in FY2025, and management increased share repurchase authorization to $1.5B.
May 7Bank of America upgrades Ulta Beauty to Buy on May 5 with $685 price target after Q4 beat; stock trades 26% below 52-week high.Positive▶
Bank of America analyst Lorraine Hutchinson upgraded Ulta Beauty to Buy from Neutral on May 5, arguing conservative FY2026 guidance has reset expectations and created attractive entry into a high-quality compounder. Ulta reported Q4 FY2026 EPS of $8.01 (12% beat) on $3.9B revenue with 6% comp sales growth. The company increased share repurchase authorization to $1.5 billion and launched Gemini-enabled shopping with Google on April 22. Stock rose 3% on the BofA upgrade.
May 6Ulta Beauty receives Bank of America upgrade to Buy; Jefferies also bullish on marginsPositive▶
Ulta Beauty received a Bank of America upgrade to Buy on May 5 with $685 price target, citing pullback as attractive entry into high-quality compounder. Jefferies upgraded to Buy with $700 target on April 20, citing strong demand and margin outlook. Q4 FY2026 delivered $8.01 EPS vs $7.15 expected on $3.9B revenue (up 12% YoY). Google partnership launched Gemini-enabled shopping experiences in April. FY2026 guidance: 6-7% net sales growth and $28.05-$28.55 diluted EPS. Competitive pressure from Walmart's expanding beauty assortment noted as potential headwind.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| ULTAULTA | $471.02 | -6.55% | +5.0% | 15.9x | 0.89 | $22.0B |
| TSCOTRACTOR | $31.20 | -1.48% | -0.2% | 13.7x | 0.50 | $16.6B |
| AMZNAMAZON.COM | $246.44 | -8.20% | +1.4% | 27.3x | 1.47 | $2.89T |
| TSLATESLA | $411.15 | -1.60% | +1.9% | 166.5x | 1.79 | $1.57T |
| HDHOME | $333.04 | +6.14% | +4.7% | 19.5x | 1.00 | $312.5B |
| MCDMCDONALD | $287.80 | +1.27% | +0.6% | 20.0x | 0.44 | $201.9B |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price below 200d MA — bearish structure.