Today’s Research Reports on Stocks to Watch: Ulta Beauty and the Trade Desk
Shares of Ulta soared to a brand new high after the company reported third quarter financial results. Shares of The Trade Desk also reported third quarter results that beat expectations but saw its shares collapse.
RDI Initiates Coverage on:
Ulta Beauty, Inc.
The Trade Desk, Inc.
Ulta Beauty, Inc. shares closed up 4.81% on Thursday with almost 2 million shares traded. The stock hit a new high of $308.88 after the beauty retailer reported third quarter results. For the quarter, Ulta said same-store sales jumped 7.8% while analysts waited for a jump of 6.5%. Looking ahead, the company is expecting same-store sales for full year in the range of 7 to 8%, previously this range was 6 to 8%. Analysts are waiting for 7.7% according to the FactSet consensus. Ahead of the earnings, Mary Dillon, Chief Executive Officer stated, “We see exciting possibilities ahead to continue to increase market share, profitability and long-term shareholder value through our renewed strategic plan. This plan reflects deep guest and category insights that have led to robust innovation around guest experience, new capabilities in personalization and digital experiences, and laser focus on operational efficiencies." CFRA analyst Camilla Yanushevksy upgraded the stock from "hold" to "buy" and raised her price target from $100 to $351. She wrote she was "impressed by Ulta’s innovation mindset."
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The Trade Desk, Inc. shares collapsed on Thursday, closing the day down 7.34% on nearly 3 million shares traded. The stock continued to see losses of about 11% in after-hours trading after announcing third quarter results that beat on both the top and bottom line. Trade Desk said it earned $20 million, or 44 cents a share, in the quarter. Earnings, adjusted for one-time items, was $30 million, or 65 cents a share. In the year ago quarter the company had reported $15 million, or 35 cents in adjusted earnings. Revenue was $119 million compared to $79 million a year ago. Analysts were expecting adjusted earnings per share of 50 cents on sales of $117 million. CEO Jeff Green said, "These major wins over the past two years are providing significant momentum in 2018 and we believe this momentum will continue into 2019 and beyond." The company also raised its guidance, expecting full year revenues of at least $464 million. Previously the company expected $456 million. Adjusted EBITDA guidance for FY18 is also raised from $140 million to $145 million.
Access RDI’s The Trade Desk, Inc. Research Report at:
Our Actionable Research on Ulta Beauty, Inc. (NASDAQ: ULTA) and The Trade Desk, Inc. (NASDAQ: TTD) can be downloaded free of charge at Research Driven Investing.
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