Loop Capital lowers Ulta Beauty price target to $550

Loop Capital lowered its price target for Ulta Beauty to $550 from $600, maintaining a Hold rating. This adjustment follows Ulta Beauty's better-than-expected first-quarter fiscal year 2026 results, which surpassed revenue growth, profitability, and earnings expectations. The company also raised its full-year earnings forecast. Despite strong quarterly performance, Ulta Beauty shares have fallen 18% year-to-date, with Loop Capital citing concerns about management's implicit forecast for the remainder of the fiscal year and broader investor worries about the US consumer sector.