ODDITY Tech (NASDAQ:ODD) Trading Up 9% – What’s Next?

ODDITY Tech Ltd. (NASDAQ:ODD) was up 9% on Tuesday . The company traded as high as $10.71 and last traded at $10.8240. Approximately 151,085 shares changed hands during trading, a decline of 92% from the average daily volume of 1,930,464 shares. The stock had previously closed at $9.93.

Analysts Set New Price Targets

Several analysts recently weighed in on ODD shares. Needham & Company LLC reissued a “hold” rating on shares of ODDITY Tech in a report on Tuesday, June 2nd. Truist Financial decreased their price target on ODDITY Tech from $18.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, June 3rd. Citizens Jmp lowered ODDITY Tech from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Jefferies Financial Group reiterated a “hold” rating and issued a $10.25 price target on shares of ODDITY Tech in a research note on Tuesday, June 2nd. Finally, Barclays dropped their price target on ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, June 3rd. Nine investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $25.39.

ODDITY Tech Stock Up 7.5%

The company has a market capitalization of $614.67 million, a P/E ratio of 13.52, a PEG ratio of 1.28 and a beta of 2.48. The company has a current ratio of 4.06, a quick ratio of 2.86 and a debt-to-equity ratio of 1.96. The stock has a 50 day moving average price of $13.59 and a 200 day moving average price of $25.23.

ODDITY Tech (NASDAQ:ODD) last announced its earnings results on Tuesday, June 2nd. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The company had revenue of $197.94 million for the quarter, compared to analyst estimates of $187.87 million. ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The firm’s quarterly revenue was down 26.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 earnings per share. On average, research analysts anticipate that ODDITY Tech Ltd. will post 0.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 9,604 shares of ODDITY Tech stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $12.85, for a total transaction of $123,411.40. Following the transaction, the chief financial officer directly owned 49,054 shares of the company’s stock, valued at approximately $630,343.90. The trade was a 16.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 28,807 shares of company stock worth $402,428.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ODD. Wexford Capital LP bought a new position in shares of ODDITY Tech in the 3rd quarter worth about $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of ODDITY Tech by 134.8% in the 3rd 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. Legal & General Group Plc bought a new position in shares of ODDITY Tech in the 2nd quarter worth about $71,000. SG Americas Securities LLC bought a new position in shares of ODDITY Tech in the 1st quarter worth about $104,000. Finally, Headlands Technologies LLC acquired a new stake in shares of ODDITY Tech in the 2nd quarter valued at about $108,000. 35.88% of the stock is owned by institutional investors and hedge funds.

About ODDITY Tech

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.