ODDITY Tech (NASDAQ:ODD) Reaches New 52-Week Low – Here’s Why

ODDITY Tech Ltd. (NASDAQ:ODD) reached a new 52-week low during trading on Tuesday . The company traded as low as $10.80 and last traded at $12.31, with a volume of 6124382 shares traded. The stock had previously closed at $11.77.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ODD shares. Wall Street Zen lowered shares of ODDITY Tech from a “hold” rating to a “sell” rating in a research report on Saturday. The Goldman Sachs Group restated a “neutral” rating and issued a $20.00 target price on shares of ODDITY Tech in a report on Wednesday, February 25th. Citizens Jmp downgraded ODDITY Tech from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Zacks Research cut ODDITY Tech from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Finally, Needham & Company LLC downgraded ODDITY Tech from a “buy” rating to a “hold” rating in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $31.73.

ODDITY Tech Trading Up 4.6%

The company has a quick ratio of 4.06, a current ratio of 5.24 and a debt-to-equity ratio of 1.47. The firm has a market cap of $687.27 million, a price-to-earnings ratio of 6.84, a PEG ratio of 0.47 and a beta of 3.55. The company has a 50-day moving average price of $32.77 and a 200 day moving average price of $44.72.

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, topping the consensus estimate of $0.14 by $0.06. ODDITY Tech had a return on equity of 29.84% and a net margin of 13.68%.The firm had revenue of $152.73 million during the quarter, compared to the consensus estimate of $151.11 million. During the same period in the prior year, the business earned $0.20 EPS. The business’s revenue for the quarter was up 23.8% on a year-over-year basis. As a group, research analysts anticipate that ODDITY Tech Ltd. will post 1.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its position in ODDITY Tech by 5.0% in the 3rd quarter. Blue Trust Inc. now owns 5,988 shares of the company’s stock worth $373,000 after buying an additional 285 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of ODDITY Tech by 7.7% during the 3rd quarter. TD Asset Management Inc now owns 6,629 shares of the company’s stock valued at $413,000 after acquiring an additional 476 shares in the last quarter. Wexford Capital LP acquired a new position in shares of ODDITY Tech in the third quarter worth $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of ODDITY Tech by 134.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company’s stock worth $69,000 after acquiring an additional 651 shares in the last quarter. Finally, USS Investment Management Ltd raised its holdings in shares of ODDITY Tech by 5.3% during the fourth quarter. USS Investment Management Ltd now owns 13,753 shares of the company’s stock worth $552,000 after acquiring an additional 695 shares in the last quarter. 35.88% of the stock is owned by hedge funds and other institutional investors.

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.