Oddity Tech (NASDAQ:ODD) Sees Large Volume Increase – Time to Buy?

Oddity Tech Ltd. (NASDAQ:ODD) shares saw unusually-high trading volume on Tuesday . Approximately 653,072 shares were traded during mid-day trading, an increase of 14% from the previous session’s volume of 571,325 shares.The stock last traded at $70.40 and had previously closed at $69.46.

Analysts Set New Price Targets

ODD has been the subject of a number of recent research reports. Barclays increased their price target on shares of Oddity Tech from $42.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. upped their price objective on Oddity Tech from $63.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, June 3rd. KeyCorp lowered their target price on Oddity Tech from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. JMP Securities restated a “market outperform” rating and set a $66.00 price objective on shares of Oddity Tech in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group raised their target price on shares of Oddity Tech from $47.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

Oddity Tech Price Performance

The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 42.86, a price-to-earnings-growth ratio of 1.48 and a beta of 3.45. The firm’s 50-day simple moving average is $57.28 and its two-hundred day simple moving average is $49.25.

Oddity Tech (NASDAQ:ODD) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.06. The firm had revenue of $268.08 million during the quarter, compared to analysts’ expectations of $260.71 million. Oddity Tech had a return on equity of 29.02% and a net margin of 16.32%. Oddity Tech’s revenue was up 26.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 earnings per share. On average, analysts expect that Oddity Tech Ltd. will post 1.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Oddity Tech

Several hedge funds have recently added to or reduced their stakes in the business. Baillie Gifford & Co. grew its position in shares of Oddity Tech by 4.8% in the first quarter. Baillie Gifford & Co. now owns 6,255,326 shares of the company’s stock valued at $270,605,000 after purchasing an additional 285,745 shares during the last quarter. Granahan Investment Management LLC grew its holdings in Oddity Tech by 1.1% during the 1st quarter. Granahan Investment Management LLC now owns 1,555,191 shares of the company’s stock valued at $67,278,000 after buying an additional 16,993 shares during the last quarter. Bamco Inc. NY increased its position in Oddity Tech by 14.7% during the fourth quarter. Bamco Inc. NY now owns 1,429,198 shares of the company’s stock worth $60,055,000 after buying an additional 183,152 shares in the last quarter. Capital International Investors raised its holdings in shares of Oddity Tech by 29.5% in the fourth quarter. Capital International Investors now owns 1,365,744 shares of the company’s stock worth $57,389,000 after acquiring an additional 311,401 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Oddity Tech by 0.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,289,493 shares of the company’s stock valued at $55,783,000 after acquiring an additional 6,419 shares in the last quarter. 35.88% of the stock is currently owned by hedge funds and other institutional investors.

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.