Wall Street analyst price targets, ratings consensus & upside potential · Updated Feb 28, 2026
Last 12 months price action with 12-month analyst target path
As of March 2, 2026, Ulta Beauty, Inc. (ULTA) has a Wall Street consensus price target of $693.73, based on estimates from 47 covering analysts. With the stock currently trading at $684.79, this represents a potential upside of +1.3%. The company has a market capitalization of $31.33B.
Analyst price targets range from a low of $425.00 to a high of $790.00, representing a 53% spread in expectations. The median target of $700.00 aligns closely with the consensus average. The wide target spread reflects significant disagreement on fair value.
The current analyst consensus rating is Buy, with 26 analysts rating the stock as a Buy or Strong Buy,20 rating it Hold, and 1 rating it Sell or Strong Sell. The positive sentiment balance indicates moderate optimism about the stock prospects.
From a valuation perspective, ULTA trades at a trailing P/E of 27.0x and forward P/E of 26.7x. The forward PEG ratio of 1.69 indicates reasonable valuation for growth. Analysts expect EPS to grow -3.7% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $833.46, with bear and bull scenarios of $322.15 and $1356.88 respectively. Model confidence stands at 65/100, reflecting moderate uncertainty in projections.
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Start ComparisonThe consensus price target for ULTA is $693.73, close to the current price of $684.79 (1.3% implied move). Based on 47 analyst estimates, the stock appears fairly valued near current levels.
ULTA has a consensus rating of "Buy" based on 47 Wall Street analysts. The rating breakdown is predominantly bullish, with 26 Buy/Strong Buy ratings. The consensus 12-month price target of $693.73 implies 1.3% upside from current levels.
ULTA trades at a forward P/E of 26.7137x, representing a moderate valuation. With analysts targeting $693.73 (1.3% implied move), the stock appears close to fair value.
The most bullish Wall Street analyst has a price target of $790 for ULTA, while the most conservative target is $425. The consensus of $693.73 represents the median expectation. Our quantitative valuation model projects a bull case target of $1357 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
ULTA is heavily covered by Wall Street, with 47 analysts providing price targets and ratings. Of these, 1 have Strong Buy ratings, 25 have Buy ratings, 20 recommend Hold, and 1 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
The 12-month ULTA stock forecast based on 47 Wall Street analysts shows a consensus price target of $693.73, with estimates ranging from $425 (bear case) to $790 (bull case). The median consensus rating is "Buy". Our proprietary valuation model produces a base case fair value of $833, with bear/bull scenarios of $322/$1357.
Our quantitative valuation model calculates ULTA's fair value at $833 (base case), with a bear case of $322 and bull case of $1357. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 65/100.
ULTA trades at a forward P/E ratio of 26.7x based on next-twelve-months earnings estimates compared to a trailing P/E of 27.0x. The lower forward P/E indicates analysts expect earnings growth. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
ULTA appears fairly valued according to analysts, with a "Buy" rating and minimal upside to the $693.73 target. Consider your investment thesis and risk tolerance. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
ULTA analyst price targets range from $425 to $790, a 53% wide spread indicating significant analyst disagreement. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $693.73 consensus represents the middle ground. Our model's $322-$1357 range provides an independent fundamental perspective.