As second-quarter earnings season wraps up with stellar results, Barclays looked at the latest company fundamentals to judge which stocks have the best chance at beating profit expectations going forward. The Wall Street firm found names that have had the highest jump in earnings revisions throughout the quarter and for which Barclays sees further upside to estimates. "We screened our U.S. equity coverage universe for [full-year 2022] consensus estimates that have been revised higher by at least 10% over the last 2 months, and Barclays 2021 EPS estimates that exceed current consensus," the firm said in a note to clients. The list only contains overweight-rated stocks with at least 10% upside to the current price target. Plus, the equities all have a market capitalization above $1 billion. Take a look at Barclays' list here. Amid a widespread vaccine rollout and economic reopenings, Barclays' list is full of brick-and-mortar retailers like Dick's Sporting Goods , Foot Locker , Under Armour and Ulta Beauty . The firm hiked Dick's Sporting Goods' 2022 earnings estimate 19% to $10.88 during the current quarter, which is well above consensus estimates of $8.84. Plus, it sees 33% upside to the sporting goods company's price target in the next 12 months. Barclays increased its estimates 12% for Foot Locker's 2022 results. The firm now sees the shoe retailer reporting $6.97 per share next year, while analysts expect $6.59 per share. There is also 49% upside to Foot Locker's 12-month price target. Under Armour received a 27% increase in earnings estimates from Barclays to 75 cents per share for full-year 2022. Wall Street expects the company to earn 62 cents per share next year. Last month, Under Armour reported fiscal second-quarter profit and sales that topped analysts' estimates as its turnaround efforts took hold and shoppers bought more of its merchandise at full price. There is 53% upside to Under Armour's stock price, based on Barclays' price target. Ulta Beauty also got a 13% boost to its 2022 earnings estimates from Barclays. The cosmetics retailer is expected to earn $16.71 per share in 2022, compared with consensus of $15.96 per share. Barclays' price target on Ulta implies 29% upside for the stock. Technology giants Alphabet and Square also made the list of earnings revisions. Barclays in the past two months upped Alphabet's 2022 earnings estimate 13% to $132.10. This compares with Street estimates of $129.84 per share. There is 13% upside to Alphabet's price based on Barclay's target. Payments stock Square also got an earnings estimate boost from Barclays. The Wall Street firm hiked its 2022 estimates 11% to $3.15 per share, topping consensus of $2.28 per share. E-commerce company MercadoLibre , ThredUp , Viper Energy Partners and Ovintiv also earned spots on Barclays' list. — With reporting from CNBC's Michael Bloom.
Inside an Ulta store location in New York.
Scott Mlyn | CNBC
As second-quarter earnings season wraps up with stellar results, Barclays looked at the latest company fundamentals to judge which stocks have the best chance at beating profit expectations going forward.