ODDITY Tech (NASDAQ:ODD) Price Target Raised to $18.50

ODDITY Tech (NASDAQ:ODD) had its target price lifted by Morgan Stanley from $16.50 to $18.50 in a research report report published on Thursday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other brokerages have also recently commented on ODD. Jefferies Financial Group boosted their target price on ODDITY Tech from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Wednesday, September 9th. Zacks Research upgraded ODDITY Tech from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of ODDITY Tech in a research note on Tuesday, September 8th. Weiss Ratings raised ODDITY Tech from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 9th. Finally, Bank of America reiterated an “underperform” rating on shares of ODDITY Tech in a research report on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $22.35.

ODDITY Tech Stock Down 3.2%

ODDITY Tech stock opened at $22.43 on Thursday. ODDITY Tech has a 52 week low of $9.25 and a 52 week high of $52.00. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 93.46 and a beta of 2.24. The company’s 50-day moving average price is $16.67 and its two-hundred day moving average price is $15.04. The company has a current ratio of 3.45, a quick ratio of 2.11 and a debt-to-equity ratio of 2.21.

ODDITY Tech (NASDAQ:ODD) last issued its quarterly earnings results on Wednesday, September 9th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. The company had revenue of $180.52 million during the quarter, compared to analyst estimates of $178.23 million. ODDITY Tech had a net margin of 2.23% and a return on equity of 2.58%. The business’s revenue for the quarter was down 24.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 EPS. On average, analysts expect that ODDITY Tech will post -0.25 EPS for the current fiscal year.

Insider Activity

In other news, CFO Mann Drucker sold 7,717 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $15.09, for a total transaction of $116,449.53. Following the completion of the sale, the chief financial officer directly owned 116,135 shares of the company’s stock, valued at $1,752,477.15. This represents a 6.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 62,852 shares of company stock worth $938,716 over the last quarter.

Hedge Funds Weigh In On ODDITY Tech

A number of institutional investors have recently bought and sold shares of ODD. USS Investment Management Ltd raised its holdings in ODDITY Tech by 6.4% during the 1st quarter. USS Investment Management Ltd now owns 14,633 shares of the company’s stock worth $196,000 after buying an additional 880 shares during the period. Blue Trust Inc. lifted its stake in ODDITY Tech by 14.9% during the first quarter. Blue Trust Inc. now owns 11,359 shares of the company’s stock valued at $152,000 after buying an additional 1,470 shares in the last quarter. Sigma Planning Corp boosted its holdings in shares of ODDITY Tech by 52.0% in the first quarter. Sigma Planning Corp now owns 10,535 shares of the company’s stock worth $141,000 after buying an additional 3,605 shares during the period. Juncture Wealth Strategies LLC boosted its holdings in shares of ODDITY Tech by 17.8% in the third quarter. Juncture Wealth Strategies LLC now owns 27,119 shares of the company’s stock worth $506,000 after buying an additional 4,097 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of ODDITY Tech in the first quarter worth about $104,000. Hedge funds and other institutional investors own 35.88% of the company’s stock.

About ODDITY Tech

ODDITY Tech Ltd. is a technology-driven beauty and wellness company that develops and markets consumer brands through digital, direct-to-consumer channels. The company uses data science, artificial intelligence and technology-enabled personalization to help consumers discover products and make purchasing decisions online.

ODDITY’s portfolio includes IL MAKIAGE, a digitally native makeup brand known for personalized product recommendations, and SpoiledChild, a beauty and hair-care brand focused on personalized routines and treatments.