Jefferies Raises Ulta Beauty (ULTA) Price Target to $730

On October 23, 2026, Jefferies analyst team maintained its Buy rating on Ulta Beauty, Inc. ULTA and raised the price target to $730.00 from $670.00. The note reflects a bullish stance on the specialty beauty retailer as shares trade close to recent levels.

ULTA Ulta Beauty, Inc.

$624.46 ▲ +0.71% year to date

1M 3M YTD

Daily close · Oct 23, 2026

Jefferies's Call on Ulta Beauty

In its research note on October 23, 2026, Jefferies kept its Buy rating in place while pushing its target up to $730.00 from $670.00. The firm joins a broader group of Wall Street analysts covering the cosmetics and skincare retailer, where the consensus target sits around $633.44.

Other Institutional Activity in Ulta Beauty

Large financial institutions continue to adjust positions in Ulta Beauty. Sanders Capital, LLC grew its holdings by 552,797 shares to end with 2,460,969 shares valued at $1,536,776,755. Franklin Resources, Inc. added 220,306 shares, bringing its total to 848,855 shares worth about $530,076,011. On the other hand, Hbw Advisory Services reduced its stake by 8,809 shares, leaving it with 2,710 shares valued at approximately $1,480,127.

Ulta Beauty, Inc. Stock Up 2.9%

Shares of Ulta Beauty recently traded around $624.44 on October 23, 2026, sitting right around the day's close of $624.46. The stock trades about 13.4% above its 50-day moving average of $550.74 and about 12.8% above its 200-day moving average of $553.82. The company carries a market capitalization of roughly $27.3 billion.

Recent Earnings

Ulta Beauty generated trailing-twelve-month revenue of $12.96 billion and basic earnings of $27.44 per share. The retailer posted a net profit margin of 9.3% and a return on equity of 46.1%. Investors look toward the next scheduled earnings report on December 3, 2026.

Dividend

The company does not currently pay a dividend, maintaining a payout ratio of 0.0%.

Insider Buying and Selling at Ulta Beauty, Inc.

Company insiders completed several stock transactions ahead of the autumn months. Director George R. Mrkonic Jr. sold 452 shares on April 7, 2026, at an average price of $539.29 for a total of $243,759, and later sold 383 shares on June 15, 2026, at $475.84 per share totaling $182,247. Director Lorna E. Nagler sold 600 shares on September 11, 2026, at $537.31 per share worth $322,388. Chief Executive Officer Kecia Steelman sold 2,000 shares on September 17, 2026, at $545.88 per share for a total value of $1,091,766.

Analysts Set New Price Targets

Wall Street firms maintain varied stances on the specialty retailer. UBS kept a Buy rating with a $710.00 target on August 28, 2026, lowering it from $735.00. BMO Capital initiated coverage with a Market Perform rating and a $580.00 target on September 9, 2026. DA Davidson maintained a Buy rating at $625.00 on September 14, 2026. Wells Fargo upgraded the stock to Equal-Weight and raised its target to $525.00 on September 15, 2026. Overall, the stock holds a consensus buy rating across 25 analyst opinions.

About Ulta Beauty

Ulta Beauty operates as a specialty retailer offering cosmetics, skincare, fragrance, haircare, and salon services across stores and digital platforms in the United States, Mexico, and Kuwait. Analyst updates like Jefferies's revised target help frame expectations as the retailer approaches its December financial report.

Bottom Line

Jefferies's higher price target underscores continued optimism from the firm regarding Ulta Beauty's retail strategy. Investors will monitor the company's upcoming earnings release on December 3, 2026, for further updates on sales momentum and operational growth.