Ulta Beauty, Inc. (NASDAQ:ULTA) is one of the top cheap growth stocks to get rich. Argus cut the price target on Ulta Beauty, Inc. (NASDAQ:ULTA) to $550 from $615 on June 18 and reiterated a Buy rating on the shares, stating that the stock's shares have underperformed over the past quarter, falling 13%, compared to gains of 12% for the S&P 500 and 2% for the sector ETF IYC. However, the firm pointed out that although there have been concerns over consumer spending, Ulta customers continue to prove their commitment to beauty regimens.

Ulta Beauty, Inc. (NASDAQ:ULTA) also received a rating update from Citi on June 4. The firm cut the price target on the stock to $560 from $600 and reiterated a Neutral rating on the shares, telling investors in a research note that the firm views the company's fiscal Q1 earnings report as solid. However, Citi also stated that Ulta Beauty, Inc. (NASDAQ:ULTA) still faces a competitive category.

Ulta Beauty, Inc. (NASDAQ:ULTA) is involved in the retail of beauty products, with its products including makeup, skin care, fragrance, tools, brushes, and bath and body.

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