Shares will remain under pressure in the near-term, the firm said, but the Berkshire Hathaway news could soften an expected weak second quarter.
Investors in Ulta Beauty have a lifeline thanks to Berkshire Hathaway's recently announced stake in the company ahead of earnings results, according to Oppenheimer. While the firm expects a below-expectations report and a trimmed down full-year outlook, analyst Rupesh Parikh posits that the Berkshire news will soften the blow of a potentially weak quarter.
mountain Ulta Beauty stock. Shares of Ulta have pulled back more than 23% in 2024 as beauty demand remains sluggish. Chief executive Dave Kimbell warned in April that while the company had expected demand for beauty products to slow, the speed of the pullback occurred " a bit earlier and bit bigger than we thought . " Analysts polled by FactSet forecast earnings of $5.52 per share on revenue of $2.6 billion for the quarterly results due Aug. 29.
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