JPMorgan Chase & Co. Reiterates Neutral Rating for ODDITY Tech (NASDAQ:ODD)

ODDITY Tech (NASDAQ:ODD)‘s stock had its “neutral” rating reissued by analysts at JPMorgan Chase & Co. in a report issued on Monday, Benzinga reports. They presently have a $18.00 price target on the stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 0.61% from the stock’s current price.

Several other brokerages also recently commented on ODD. Wall Street Zen upgraded shares of ODDITY Tech from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 12th. Bank of America reiterated an “underperform” rating on shares of ODDITY Tech in a research note on Thursday, September 10th. Barclays decreased their price target on ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, June 3rd. Zacks Research raised ODDITY Tech from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ODDITY Tech in a research report on Tuesday, September 8th. Ten analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $27.41.

ODDITY Tech Stock Performance

Shares of ODD opened at $18.11 on Monday. The business has a 50-day simple moving average of $15.07 and a two-hundred day simple moving average of $14.20. The company has a quick ratio of 2.11, a current ratio of 3.45 and a debt-to-equity ratio of 2.21. ODDITY Tech has a 52 week low of $9.25 and a 52 week high of $63.56. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 75.46 and a beta of 2.38.

ODDITY Tech (NASDAQ:ODD) last released its earnings results on Wednesday, September 9th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. ODDITY Tech had a net margin of 2.23% and a return on equity of 2.58%. The company had revenue of $180.52 million for the quarter, compared to analysts’ expectations of $178.23 million. During the same quarter last year, the business earned $0.92 EPS. The firm’s revenue was down 24.9% compared to the same quarter last year. On average, analysts expect that ODDITY Tech will post -0.15 EPS for the current year.

Insider Activity at ODDITY Tech

In other news, CFO Mann Drucker sold 109,602 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $15.09, for a total transaction of $1,653,894.18. Following the completion of the transaction, the chief financial officer owned 77,709 shares in the company, valued at $1,172,628.81. This trade represents a 58.51% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 172,454 shares of company stock worth $2,592,610.

Hedge Funds Weigh In On ODDITY Tech

Institutional investors have recently added to or reduced their stakes in the company. K5 Global Advisor LLC bought a new stake in ODDITY Tech in the 2nd quarter worth approximately $375,000. Sigma Planning Corp grew its holdings in shares of ODDITY Tech by 37.7% in the second quarter. Sigma Planning Corp now owns 14,510 shares of the company’s stock valued at $220,000 after purchasing an additional 3,975 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in ODDITY Tech in the second quarter worth $300,000. Avidity Partners Management LP bought a new stake in ODDITY Tech in the first quarter worth $937,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in ODDITY Tech during the first quarter valued at $488,000. Hedge funds and other institutional investors own 35.88% of the company’s stock.

About ODDITY Tech

ODDITY Tech Ltd. is a technology and consumer products company focused on beauty and wellness. The company combines data science, artificial intelligence and digital commerce to develop, market and sell products directly to consumers, with an emphasis on personalized shopping experiences and digitally native brands.

ODDITY’s portfolio includes IL MAKIAGE, a digitally focused makeup brand known for personalized product recommendations, and SpoiledChild, a beauty and hair-care brand. Its offerings include cosmetics, skin-care, hair-care and related beauty products sold primarily through online channels.

Founded in 2018 by Oran Holtzman and Lihi Pinto Fryman, ODDITY is headquartered in New York and operates technology and research capabilities in Tel Aviv.