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Business
Dipanjan Banchur

Is Ulta Stock a Buy Heading Into 2023?

Ulta TA Ulta Beauty Dipanjan BanchurSince Dave Kimbell Ulta Beauty Inc

The persistently high inflation has plagued consumer sentiment, affecting demand across various industries. The beauty industry has not been affected much by higher prices as consumers have not compromised on buying beauty products despite price increases. According to Euromonitor International, the global beauty sector is expected to reach $546 billion in 2022, up from $529 billion in 2021.

Ulta Beauty, Inc. (ULTA) announced higher-than-expected EPS and revenue in the third quarter. Its EPS was 29.3% higher than the consensus EPS estimate, and its revenue beat analyst estimates by 5.8%.

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