ODDITY Tech (NASDAQ:ODD) Given Sell Rating at The Goldman Sachs Group

ODDITY Tech (NASDAQ:ODD)‘s stock had its “sell” rating restated by stock analysts at The Goldman Sachs Group in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $8.00 price target on the stock, down from their previous price target of $16.00. The Goldman Sachs Group’s price objective suggests a potential downside of 21.80% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. Zacks Research cut shares of ODDITY Tech from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. Bank of America cut shares of ODDITY Tech from a “buy” rating to an “underperform” rating and set a $10.00 target price for the company. in a report on Thursday, February 26th. Citizens Jmp cut shares of ODDITY Tech from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Weiss Ratings cut shares of ODDITY Tech from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, March 3rd. Finally, Wall Street Zen cut shares of ODDITY Tech from a “sell” rating to a “strong sell” rating in a report on Saturday, April 18th. Nine investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $28.93.

ODDITY Tech Price Performance

Shares of NASDAQ ODD traded up $0.39 during mid-day trading on Wednesday, reaching $10.23. 2,553,906 shares of the company traded hands, compared to its average volume of 1,932,457. ODDITY Tech has a fifty-two week low of $9.25 and a fifty-two week high of $78.28. The company has a debt-to-equity ratio of 1.47, a current ratio of 5.24 and a quick ratio of 4.06. The firm has a market cap of $589.04 million, a PE ratio of 5.68, a price-to-earnings-growth ratio of 1.83 and a beta of 2.47. The stock has a fifty day simple moving average of $13.96 and a 200-day simple moving average of $26.24.

ODDITY Tech (NASDAQ:ODD) last issued its earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). The business had revenue of $197.94 million for the quarter, compared to the consensus estimate of $187.87 million. ODDITY Tech had a return on equity of 29.84% and a net margin of 13.68%.The company’s quarterly revenue was down 26.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.69 earnings per share. Equities research analysts anticipate that ODDITY Tech will post 0.64 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Mann Lindsay Drucker sold 9,604 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $12.85, for a total value of $123,411.40. Following the completion of the transaction, the chief financial officer owned 49,054 shares of the company’s stock, valued at approximately $630,343.90. This trade represents a 16.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 28,807 shares of company stock valued at $402,428.

Hedge Funds Weigh In On ODDITY Tech

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wexford Capital LP bought a new position in shares of ODDITY Tech during the 3rd quarter valued at $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of ODDITY Tech by 134.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company’s stock valued at $69,000 after purchasing an additional 651 shares in the last quarter. Legal & General Group Plc bought a new position in shares of ODDITY Tech during the 2nd quarter valued at $71,000. Quaker Wealth Management LLC raised its holdings in shares of ODDITY Tech by 530.3% during the 3rd quarter. Quaker Wealth Management LLC now owns 1,664 shares of the company’s stock valued at $104,000 after purchasing an additional 1,400 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of ODDITY Tech during the 1st quarter valued at $104,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

Key Headlines Impacting ODDITY Tech

Here are the key news stories impacting ODDITY Tech this week:

• Neutral Sentiment: KeyCorp reaffirmed its sector weight rating on ODDITY Tech, signaling a cautious but unchanged view on the stock. Benzinga report on KeyCorp rating
• Neutral Sentiment: Truist lowered its price target on ODDITY Tech from $18 to $12 and kept a hold rating, reflecting reduced expectations after the earnings update. Benzinga report on Truist price target cut
• Negative Sentiment: The Q1 earnings call and related coverage highlighted ad shock, weaker sales trends, and higher customer acquisition costs, all of which are pressuring sentiment on the stock. TipRanks earnings call article
• Negative Sentiment: Management also issued Q2 revenue guidance of $168.8 million to $180.9 million, below Wall Street’s roughly $192 million expectation, reinforcing worries about near-term growth. Company earnings release

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.