Ulta Beauty Stock Is Up 16% in 2022, and It Still Has Room to Run
Since hitting a 52-week low of $330 earlier this year, Ulta Beauty (NASDAQ: ULTA) stock is up 45% at the time of writing. Year to date, its 16% gain significantly outperforms the S&P 500 index loss of about 17%.
Ulta Beauty has delivered strong earnings results that have fueled the share price higher, and the stock's relatively low valuation leaves room for more gains in 2023 and beyond.
It is rare to find retail companies beating Wall Street's earnings estimates and repeatedly raising forward guidance in this market downturn, but that's exactly what Ulta Beauty has delivered and what is fueling the stock's move higher.
Source Fool.com
