Needham & Company LLC Reiterates Hold Rating for ODDITY Tech (NASDAQ:ODD)

ODDITY Tech (NASDAQ:ODD)‘s stock had its “hold” rating reissued by investment analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports.

Several other equities analysts also recently issued reports on ODD. Wall Street Zen downgraded shares of ODDITY Tech from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 18th. Bank of America downgraded 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. KeyCorp dropped their price target on ODDITY Tech from $50.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Citizens Jmp lowered ODDITY Tech from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Finally, Barclays reissued an “underweight” rating and issued a $13.00 price objective (down from $40.00) on shares of ODDITY Tech in a report on Thursday, February 26th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $31.36.

ODDITY Tech Stock Down 26.1%

Shares of NASDAQ ODD traded down $3.53 during midday trading on Tuesday, hitting $9.98. 1,974,789 shares of the company’s stock were exchanged, compared to its average volume of 1,263,416. The company has a debt-to-equity ratio of 1.47, a current ratio of 5.24 and a quick ratio of 4.06. ODDITY Tech has a twelve month low of $10.80 and a twelve month high of $79.18. The company has a market cap of $574.66 million, a PE ratio of 5.58, a P/E/G ratio of 1.77 and a beta of 2.58. The firm’s fifty day simple moving average is $13.96 and its 200-day simple moving average is $26.24.

ODDITY Tech (NASDAQ:ODD) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). The business had revenue of $197.94 million during the quarter, compared to analyst estimates of $187.87 million. ODDITY Tech had a net margin of 13.68% and a return on equity of 29.84%. The business’s revenue for the quarter was down 26.2% compared to the same quarter last year. During the same period last year, the company earned $0.69 earnings per share. Research analysts predict that ODDITY Tech will post 0.64 EPS 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 value of $123,411.40. Following the completion of the sale, the chief financial officer owned 49,054 shares in the company, valued at $630,343.90. The trade was a 16.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 28,807 shares of company stock valued at $402,428 in the last ninety days.

Institutional Trading of ODDITY Tech

Institutional investors and hedge funds have recently bought and sold shares of the business. Wexford Capital LP acquired a new stake in shares of ODDITY Tech in the third quarter worth $40,000. Legal & General Group Plc purchased a new stake in shares of ODDITY Tech in the second quarter worth about $71,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of ODDITY Tech by 134.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company’s stock valued at $69,000 after buying an additional 651 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of ODDITY Tech in the second quarter valued at about $108,000. Finally, 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 buying an additional 1,400 shares during the period. Institutional investors and hedge funds own 35.88% of the company’s stock.

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.