ODDITY Tech (NASDAQ:ODD) Sets New 12-Month Low After Analyst Downgrade

ODDITY Tech Ltd. (NASDAQ:ODD) shares hit a new 52-week low during mid-day trading on Wednesday after Jefferies Financial Group downgraded the stock from a buy rating to a hold rating. Jefferies Financial Group now has a $18.00 price target on the stock. ODDITY Tech traded as low as $13.09 and last traded at $13.9250, with a volume of 8199394 shares trading hands. The stock had previously closed at $29.02.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 target price on shares of ODDITY Tech in a report on Thursday, November 20th. Wall Street Zen raised ODDITY Tech from a “sell” rating to a “hold” rating in a research note on Sunday, November 30th. Zacks Research downgraded ODDITY Tech from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. KeyCorp reissued an “overweight” rating on shares of ODDITY Tech in a report on Friday. Finally, Morgan Stanley cut their price target on ODDITY Tech from $61.00 to $49.00 and set an “equal weight” rating for the company in a research note on Friday, November 21st. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, ODDITY Tech currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.40.

Hedge Funds Weigh In On ODDITY Tech

Several institutional investors have recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D increased its stake in shares of ODDITY Tech by 74.9% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 14,323 shares of the company’s stock valued at $1,081,000 after acquiring an additional 6,132 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of ODDITY Tech by 378.5% in the second quarter. JPMorgan Chase & Co. now owns 671,724 shares of the company’s stock worth $50,695,000 after acquiring an additional 531,334 shares during the last quarter. Jennison Associates LLC purchased a new stake in ODDITY Tech in the second quarter valued at approximately $423,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in ODDITY Tech in the second quarter valued at approximately $1,029,000. Finally, Entropy Technologies LP acquired a new position in ODDITY Tech during the second quarter worth approximately $679,000. 35.88% of the stock is currently owned by institutional investors and hedge funds.

ODDITY Tech Stock Performance

The company has a quick ratio of 6.42, a current ratio of 7.54 and a debt-to-equity ratio of 1.53. The company has a market cap of $780.84 million, a PE ratio of 7.82, a P/E/G ratio of 1.19 and a beta of 3.18. The stock’s 50 day simple moving average is $35.08 and its two-hundred day simple moving average is $46.02.

ODDITY Tech (NASDAQ:ODD) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. The company had revenue of $152.73 million during the quarter, compared to analysts’ expectations of $151.11 million. ODDITY Tech had a net margin of 14.11% and a return on equity of 31.68%. The business’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 EPS. As a group, research analysts anticipate that ODDITY Tech Ltd. will post 1.62 earnings per share for the current year.

ODDITY Tech Company Profile

Oddity Tech Ltd. operates as a consumer tech company that builds digital-first brands for the beauty and wellness industries in the United States and internationally. It serves consumers worldwide through its AI-driven online platform, which uses data science, machine learning, and computer vision capabilities to identify consumer needs, and develop solutions in the form of beauty and wellness products. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.