ODDITY Tech (NASDAQ:ODD) Downgraded to “Hold” Rating by Jefferies Financial Group

ODDITY Tech (NASDAQ:ODD) was downgraded by research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Marketbeat reports. They currently have a $18.00 price target on the stock. Jefferies Financial Group’s price target suggests a potential upside of 25.64% from the stock’s current price.

A number of other analysts have also recently commented on ODD. Needham & Company LLC restated a “buy” rating and set a $72.00 price target on shares of ODDITY Tech in a research note on Thursday, November 20th. Morgan Stanley lowered their target price on shares of ODDITY Tech from $61.00 to $49.00 and set an “equal weight” rating on the stock in a report on Friday, November 21st. Wall Street Zen raised ODDITY Tech from a “sell” rating to a “hold” rating in a report on Sunday, November 30th. Zacks Research cut ODDITY Tech from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, Barclays dropped their price objective on ODDITY Tech from $64.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, November 21st. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.40.

ODDITY Tech Stock Performance

Shares of ODD traded down $14.69 during mid-day trading on Wednesday, hitting $14.33. The stock had a trading volume of 9,502,331 shares, compared to its average volume of 1,327,840. ODDITY Tech has a 52 week low of $13.09 and a 52 week high of $79.18. The company has a debt-to-equity ratio of 1.53, a current ratio of 7.54 and a quick ratio of 6.42. The business has a fifty day moving average price of $35.08 and a 200-day moving average price of $46.02. The firm has a market cap of $799.88 million, a P/E ratio of 7.85, a PEG ratio of 1.19 and a beta of 3.18.

ODDITY Tech (NASDAQ:ODD) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. The company had revenue of $152.73 million during the quarter, compared to analyst estimates of $151.11 million. ODDITY Tech had a return on equity of 31.68% and a net margin of 14.11%.The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 EPS. On average, equities research analysts expect that ODDITY Tech will post 1.62 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Invesco Ltd. raised its stake in ODDITY Tech by 67.3% in the fourth quarter. Invesco Ltd. now owns 6,617 shares of the company’s stock valued at $266,000 after purchasing an additional 2,661 shares in the last quarter. Vident Advisory LLC increased its holdings in shares of ODDITY Tech by 60.0% in the 4th quarter. Vident Advisory LLC now owns 7,144 shares of the company’s stock worth $287,000 after buying an additional 2,679 shares during the last quarter. State of Tennessee Department of Treasury raised its position in shares of ODDITY Tech by 35.1% during the 4th quarter. State of Tennessee Department of Treasury now owns 47,850 shares of the company’s stock valued at $1,923,000 after buying an additional 12,424 shares in the last quarter. Man Group plc lifted its holdings in shares of ODDITY Tech by 67.5% during the 4th quarter. Man Group plc now owns 353,690 shares of the company’s stock worth $14,211,000 after acquiring an additional 142,558 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in ODDITY Tech by 115.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,423,917 shares of the company’s stock worth $97,379,000 after acquiring an additional 1,296,551 shares in the last quarter. 35.88% of the stock is currently 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.