On August 28, ulta beauty fell 5.15% in regular trading, trading at $511.445/share, with turnover of $186 million. The stock declined despite the company reporting Q2 results that beat expectations across all key metrics, as multiple analysts lowered their price targets.

ulta beauty posted Q2 EPS of $6.55, exceeding the consensus estimate of $6.20 by over 6%, representing a 13.3% year-over-year increase from $5.78. Revenue came in at $3.04 billion versus the $2.99 billion expected, while comparable store sales grew 3.8%, significantly ahead of the 2.44% estimate. The company also raised its full-year fiscal 2026 EPS guidance to $28.70-$29.00, up from the prior range of $28.36-$28.80, and increased its share buyback program to $1.8 billion from $1.5 billion.

Despite the strong beat and raised outlook, several analysts maintained Buy ratings while lowering their price targets. DA Davidson adjusted its target to $625 from $585, maintaining a Buy rating. The average analyst price target stands at $631.90 with an overweight consensus rating. UBS had previously noted that the company's growth algorithm remains durable even as comparable sales moderate against tough prior-year comparisons.

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