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

Shares of ODDITY Tech Ltd. (NASDAQ:ODD) have received a consensus recommendation of “Reduce” from the thirteen ratings firms that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $25.3864.

A number of research firms have issued reports on ODD. Barclays lowered their price target on ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, June 3rd. Wall Street Zen lowered shares of ODDITY Tech from a “sell” rating to a “strong sell” rating in a report on Saturday, April 18th. Morgan Stanley decreased their price objective on shares of ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 3rd. The Goldman Sachs Group lowered shares of ODDITY Tech from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $16.00 to $8.00 in a research report on Wednesday, June 3rd. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $10.25 target price on shares of ODDITY Tech in a research note on Tuesday, June 2nd.

Insiders Place Their Bets

In related news, CFO Mann Lindsay Drucker sold 109,602 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $15.09, for a total value of $1,653,894.18. Following the completion of the sale, the chief financial officer directly owned 77,709 shares in the company, valued at approximately $1,172,628.81. This represents a 58.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 three months, insiders have sold 128,805 shares of company stock worth $1,932,910.

Hedge Funds Weigh In On ODDITY Tech

Several large investors have recently added to or reduced their stakes in ODD. TD Asset Management Inc grew its position in shares of ODDITY Tech by 7.7% during the third quarter. TD Asset Management Inc now owns 6,629 shares of the company’s stock worth $413,000 after acquiring an additional 476 shares during the last quarter. Wexford Capital LP bought a new stake in shares of ODDITY Tech during the 3rd quarter worth $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 purchasing an additional 651 shares in the last quarter. USS Investment Management Ltd raised its holdings in shares of ODDITY Tech by 5.3% during the fourth quarter. USS Investment Management Ltd now owns 13,753 shares of the company’s stock valued at $552,000 after acquiring an additional 695 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in shares of ODDITY Tech by 2.0% in the fourth quarter. California State Teachers Retirement System now owns 43,532 shares of the company’s stock valued at $1,749,000 after purchasing an additional 870 shares in the last quarter. 35.88% of the stock is currently owned by institutional investors.

ODDITY Tech Price Performance

Shares of ODD stock traded up $0.48 during mid-day trading on Tuesday, reaching $17.84. The stock had a trading volume of 276,727 shares, compared to its average volume of 1,914,703. ODDITY Tech has a 12-month low of $9.25 and a 12-month high of $76.84. The company has a market cap of $1.03 billion, a P/E ratio of 22.54 and a beta of 2.37. The business has a 50-day simple moving average of $13.20 and a 200 day simple moving average of $21.13. 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 (NASDAQ:ODD) last released its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The business had revenue of $197.94 million during the quarter, compared to analysts’ expectations of $187.87 million. ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.ODDITY Tech’s quarterly revenue was down 26.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 earnings per share. On average, sell-side analysts anticipate that ODDITY Tech will post -0.46 earnings per share for the current year.

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.