ODDITY Tech Ltd. (NASDAQ:ODD) Receives $25.39 Average PT from Brokerages

Shares of ODDITY Tech Ltd. (NASDAQ:ODD) have earned an average rating of “Reduce” from the thirteen analysts that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation and nine have issued a hold recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $25.3864.

ODD has been the subject of several research analyst reports. Jefferies Financial Group reiterated a “hold” rating and issued a $10.25 price objective on shares of ODDITY Tech in a report on Tuesday, June 2nd. Needham & Company LLC restated a “hold” rating on shares of ODDITY Tech in a research note on Tuesday, June 2nd. Morgan Stanley dropped their price target on shares of ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 3rd. The Goldman Sachs Group lowered shares of ODDITY Tech from a “hold” rating to a “sell” rating and reduced their price target for the stock from $16.00 to $8.00 in a research note on Wednesday, June 3rd. Finally, Truist Financial reduced their price target on shares of ODDITY Tech from $18.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, June 3rd.

ODDITY Tech Stock Performance

Shares of ODD opened at $13.22 on Wednesday. The business’s fifty day simple moving average is $14.70 and its two-hundred day simple moving average is $15.82. The company has a current ratio of 4.06, a quick ratio of 2.86 and a debt-to-equity ratio of 1.96. ODDITY Tech has a 12 month low of $9.25 and a 12 month high of $64.23. The company has a market cap of $761.21 million, a price-to-earnings ratio of 16.73 and a beta of 2.38.

ODDITY Tech (NASDAQ:ODD) last posted its 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 business had revenue of $197.94 million during the quarter, compared to the consensus estimate of $187.87 million. ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The firm’s revenue for the quarter was down 26.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 EPS. Research analysts anticipate that ODDITY Tech will post -0.55 earnings per share for the current fiscal year.

Insider Transactions at ODDITY Tech

In related news, CFO Mann Lindsay Drucker sold 11,473 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $15.10, for a total value of $173,242.30. Following the sale, the chief financial officer owned 104,492 shares in the company, valued at approximately $1,577,829.20. This trade represents a 9.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 130,678 shares of company stock valued at $1,956,201 in the last 90 days.

Hedge Funds Weigh In On ODDITY Tech

Hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC boosted its stake in shares of ODDITY Tech by 115.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,423,917 shares of the company’s stock worth $97,379,000 after buying an additional 1,296,551 shares during the last quarter. Morgan Stanley lifted its holdings in ODDITY Tech by 13.9% in the fourth quarter. Morgan Stanley now owns 4,305,565 shares of the company’s stock valued at $172,998,000 after acquiring an additional 525,481 shares during the period. Wellington Management Group LLP bought a new position in ODDITY Tech in the third quarter valued at about $27,838,000. Altshuler Shaham Ltd boosted its position in ODDITY Tech by 364.7% in the fourth quarter. Altshuler Shaham Ltd now owns 500,714 shares of the company’s stock worth $20,119,000 after purchasing an additional 392,967 shares during the last quarter. Finally, Amundi purchased a new position in ODDITY Tech in the fourth quarter worth about $14,838,000. 35.88% of the stock is owned by institutional investors.

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.