Morgan Stanley Lowers ODDITY Tech (NASDAQ:ODD) Price Target to $10.00

ODDITY Tech (NASDAQ:ODD) had its target price lowered by stock analysts at Morgan Stanley from $16.00 to $10.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential downside of 4.70% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group reiterated a “sell” rating and set a $8.00 price target (down from $16.00) on shares of ODDITY Tech in a report on Wednesday. Zacks Research downgraded shares of ODDITY Tech from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. Wall Street Zen downgraded shares of ODDITY Tech from a “sell” rating to a “strong sell” rating in a report on Saturday, April 18th. Citizens Jmp downgraded shares of ODDITY Tech from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Finally, Barclays reduced their price target on shares of ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday. Nine research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $25.39.

ODDITY Tech Price Performance

ODD traded up $0.65 during midday trading on Wednesday, reaching $10.49. 2,837,078 shares of the company’s stock were exchanged, compared to its average volume of 1,934,796. The stock has a market capitalization of $604.19 million, a PE ratio of 5.85, a P/E/G ratio of 1.83 and a beta of 2.47. ODDITY Tech has a 1-year low of $9.25 and a 1-year 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 business’s 50-day moving average price is $13.96 and its 200 day moving average price is $26.24.

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

Insider Buying and Selling at ODDITY Tech

In other news, CFO Mann Lindsay Drucker sold 9,604 shares of the company’s stock in a transaction 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 directly owned 49,054 shares in the company, valued at approximately $630,343.90. This represents a 16.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 28,807 shares of company stock valued at $402,428 in the last ninety days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in ODDITY Tech by 16.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,117 shares of the company’s stock valued at $3,293,000 after purchasing an additional 10,582 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of ODDITY Tech by 12.9% in the second quarter. Geode Capital Management LLC now owns 75,063 shares of the company’s stock worth $5,660,000 after buying an additional 8,561 shares during the period. Legal & General Group Plc acquired a new stake in ODDITY Tech during the second quarter worth $71,000. American Century Companies Inc. raised its holdings in ODDITY Tech by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 14,300 shares of the company’s stock worth $1,079,000 after purchasing an additional 2,105 shares during the last quarter. Finally, Invesco Ltd. bought a new stake in ODDITY Tech during the 2nd quarter worth about $327,000. 35.88% of the stock is currently owned by institutional investors.

Key Stories 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.