Are Wall Street Analysts Bullish on Ulta Beauty Stock?

Valued at a market cap of $17.7 billion, Ulta Beauty, Inc. (ULTA) is a leading specialty beauty retailer in the United States, offering a wide range of cosmetics, skincare, haircare, and fragrance products from over 500 brands, as well as its private label. Based in Bolingbrook, Illinois, it also provides salon services in its stores and sells products through its website and mobile applications.

Shares of the beauty products retailer have underperformed the broader market over the past 52 weeks. ULTA has declined 9.5% over this time frame, while the broader S&P 500 Index ($SPX) has gained 31.8%. In 2024, shares of ULTA are down 23.4%, compared to SPX’s 25.8% increase on a YTD basis.