Selected stock price target news of the day - March 18th, 2024

By: Matthew Otto

Ulta Beauty Fiscal Guidance Concerns Amidst TikTok Ban Uncertainty

Ulta Beauty forecasted per-share earnings of $26.20 to $27 and net sales anticipated at $11.7 billion to $11.8 billion disappointed analysts who had expected $27.01 earnings per share and $11.7 billion in sales. Moreover, Ulta’s fiscal fourth-quarter earnings of $8.08 per share surpassed estimates of $7.53, with net sales totaling $3.55 billion, slightly above the consensus call of $3.53 billion. Comparable sales growth decelerated to 2.5%. This is lower than the 15.6% recorded in the year-ago quarter.

In response to market concerns, analysts from Jefferies raised Ulta’s price target to $610 from $587, maintaining a Buy rating. TD Cowen reiterated an Outperform rating with a $580 price target. Jefferies highlighted Ulta’s strategic endeavors, including a $2 billion share repurchase authorization and plans to expand into Mexico by 2025 in collaboration with Axo. Conversely, TD Cowen emphasized Ulta’s resilient loyalty program and diversified product portfolio, positioning the company favorably despite uncertainties surrounding TikTok’s potential ban, which serves as a significant marketing platform.

Analysts Diverse Perspectives with Varied Price Target Adjustments

Morgan Stanley analyst Simeon Gutman maintained an Equal-Weight rating and raised the price target from $480 to $525.
Loop Capital analyst Anthony Chukumba reiterated a Hold rating and increased the price target from $530 to $540.
Jefferies analyst Stephanie Wissink kept a Buy rating and upgraded the price target from $587 to $610.
BMO Capital analyst Simeon Siegel maintained a Market Perform rating and raised the price target from $485 to $540.

Which Analyst has the best track record to show on ULTA?

Analyst Michael Baker (DAVIDSON) currently has the highest performing score on ULTA with 27/28 (96.43%) price target fulfillment ratio. His price targets carry an average of $57.97 (12.28%) potential upside. Ulta Beauty stock price reaches these price targets on average within 130 days.

Phreesia Reports Fiscal Q4 2024 Results: Revenue Surges, Adjusted EBITDA Improves

Phreesia revealed financial figures in its fiscal fourth-quarter 2024 earnings reporting a 24% year-over-year increase in total revenue, surging to $95 million. Notably, Phreesia facilitated over 150 million patient visits in fiscal year 2024, representing a 25% rise compared to the previous year. Adjusted EBITDA witnessed an improvement, reaching negative $3.5 million, marking a $14 million enhancement over the prior year’s performance.

Looking ahead to fiscal year 2025, Phreesia maintains a revenue outlook, projecting a range of $424 million to $434 million. It anticipates an adjusted EBITDA range of $12 million to $20 million.

Analysts Varied Outlooks Amidst Price Target Adjustments

Baird analyst Joseph Vruwink maintained an Outperform rating and raised the price target from $30 to $31.
Needham analyst Ryan MacDonald reiterated a Buy rating and a $29 price target.
RBC Capital analyst Sean Dodge maintained a Sector Perform rating and raised the price target from $17 to $23.
Raymond James analyst John Ransom reiterated an Outperform rating and increased the price target from $25 to $30.
JMP Securities analyst Joe Goodwin kept a Market Outperform rating and a $28 price target.

Which Analyst has the best track record to show on PHR?

Analyst Stephanie Davis (BARCLAYS) currently has the highest performing score on PHR with 7/12 (58.33%) price target fulfillment ratio. His price targets carry an average of $6.9 (31.22%) potential upside. Phreesia stock price reaches these price targets on average within 28 days.

DICK’S Sporting Goods Reports Record Sales and Projects Continued Growth in 2024

DICK’S Sporting Goods conducted its Fourth Quarter 2023 Earnings Conference Call and reported record sales of $13 billion for fiscal 2023, marking a 5% increase from the previous year. Notably, the fourth quarter alone witnessed a sales surge of 7.8% to $3.88 billion, including $170 million attributed to the additional week in the fiscal calendar. Comparable store sales experienced an uptick of 2.8% on a 13-week basis, building upon a 5.3% increase observed in the same period the previous year.

Gross profit for the full year reached $4.55 billion, accounting for 35.01% of net sales and representing an increase of 36 basis points from the preceding year. On a 52-week comparable basis, non-GAAP earnings per diluted share for fiscal 2023 amounted to $12.72, reflecting an uptick from $12.04 in 2022, marking an increase of 5.6%. Net capital expenditures for the fourth quarter totaled $151 million, with quarterly dividends amounting to $81 million.

Looking ahead to 2024, DICK’S Sporting Goods anticipates continued growth and profitability, projecting consolidated sales in the range of $13 billion to $13.13 billion. Comparable store sales are expected to grow by 1% to 2%, with an estimated EBT margin of 10.9% at the midpoint. Gross margins are forecasted to remain stable at approximately 35%.

Capital expenditure plans for 2024 include approximately $800 million, with investments focused on store growth, relocations, technology enhancements, and supply chain expansion. DICK’S plans to open eight new House of Sport locations and 16 next-generation 50K DICK’S stores during the year. Additionally, DICK’S intends to increase its footprint in the Golf Galaxy business by opening 10 Golf Galaxy Performance Center locations.

Analysts Upgrade Price Targets for DICK’S Sporting Goods

Loop Capital analyst Anthony Chukumba maintained a Hold rating and raised the price target from $150 to $220.
Barclays analyst Adrienne Yih reiterated an Overweight rating and increased the price target from $194 to $239.
Truist Securities analyst Scot Ciccarelli maintained a Buy rating and price target raised from $201 to $243.
Morgan Stanley analyst Simeon Gutman kept an Overweight rating and lifted the price target from $160 to $235.
DA Davidson analyst Michael Baker sustained a Buy rating and upgraded the price target from $183 to $250.
Goldman Sachs analyst Kate McShane affirmed a Buy rating and elevated the price target from $157 to $247.

Which Analyst has the best track record to show on DKS?

Analyst Scot Ciccarelli (TRUIST) currently has the highest performing score on DKS with 14/14 (100%) price target fulfillment ratio. His price targets carry an average of $15.41 (9.72%) potential upside. DICK’S Sporting Goods stock price reaches these price targets on average within 142 days.