5 Under-the-Radar Stocks With Massive Upside for 2024

3. Ulta Beauty, Inc. (NASDAQ:ULTA)

Number of Q4 2023 Hedge Fund Shareholders: 49

Average Analyst Share Price Target Upside: 38%

Ulta Beauty, Inc. (NASDAQ:ULTA) is a beauty technology company that sells branded and other products on its retail platform. It has beaten analyst EPS estimates in all four of its latest quarters, the shares are rated Buy on average, and the average share price target is $563.24.

For their fourth quarter of 2023 shareholdings, 49 out of the 933 hedge funds profiled by Insider Monkey had held a stake in Ulta Beauty, Inc. (NASDAQ:ULTA). Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital was the largest shareholder due to its $269 million investment.

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