Ulta Beauty Inc

ULTA is in an early Stage 1 consolidation within a longer-term uptrend. A Lockout Rally pattern shows shallow pullbacks holding above rising short-term EMAs, supporting a bullish medium-term bias. Short-term price action remains constructive, tightly tracking the 9 and 20 EMAs, warranting immediate participation on shallow pullbacks into these dynamic support zones.

• ↑Net sales +11.1% YoY to $3.2B in Q1 2026; e-commerce grew double digits
• ↑Gross margin up 100bps to 40.1% in Q1 2026, underscoring pricing power
• ↓Operating margin fell to 10.8% in Q3 2025 from 12.6%, driven by rising costs