ODDITY Tech (NASDAQ:ODD) Shares Climb 8.8% – Here’s Why

ODDITY Tech Ltd. (NASDAQ:ODD) shares shot up 8.8% during trading on Monday. The stock traded as high as $20.56 and last traded at $20.5550. Approximately 192,537 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 1,650,452 shares. The stock had previously closed at $18.90.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ODD shares. Jefferies Financial Group lifted their price objective on shares of ODDITY Tech from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Wednesday, September 9th. JPMorgan Chase & Co. initiated coverage on ODDITY Tech in a report on Monday, September 21st. They set a “neutral” rating and a $18.00 price target on the stock. Needham & Company LLC restated a “hold” rating on shares of ODDITY Tech in a research report on Tuesday, September 8th. Bank of America reiterated an “underperform” rating on shares of ODDITY Tech in a report on Thursday, September 10th. Finally, Wall Street Zen raised shares of ODDITY Tech from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 12th. Ten equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $22.15.

ODDITY Tech Trading Down 1.7%

The company has a current ratio of 3.45, a quick ratio of 2.11 and a debt-to-equity ratio of 2.21. The stock has a market capitalization of $1.11 billion, a P/E ratio of 80.21 and a beta of 2.24. The business’s fifty day simple moving average is $15.60 and its two-hundred day simple moving average is $14.62.

ODDITY Tech (NASDAQ:ODD) last released its earnings results on Wednesday, September 9th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.08. ODDITY Tech had a net margin of 2.23% and a return on equity of 2.58%. The business had revenue of $180.52 million during the quarter, compared to analysts’ expectations of $178.23 million. During the same quarter last year, the company earned $0.92 earnings per share. The firm’s revenue was down 24.9% on a year-over-year basis. As a group, analysts forecast that ODDITY Tech Ltd. will post -0.25 earnings per share for the current year.

Insider Buying and Selling at ODDITY Tech

In other news, CFO Mann Drucker sold 7,717 shares of ODDITY Tech stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $15.09, for a total transaction of $116,449.53. Following the sale, the chief financial officer owned 116,135 shares of the company’s stock, valued at approximately $1,752,477.15. This trade represents a 6.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 62,852 shares of company stock worth $938,716.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in ODDITY Tech in the 1st quarter valued at $104,000. Sigma Planning Corp boosted its position in shares of ODDITY Tech by 52.0% during the 1st quarter. Sigma Planning Corp now owns 10,535 shares of the company’s stock valued at $141,000 after acquiring an additional 3,605 shares in the last quarter. Blue Trust Inc. increased its stake in ODDITY Tech by 14.9% in the first quarter. Blue Trust Inc. now owns 11,359 shares of the company’s stock valued at $152,000 after acquiring an additional 1,470 shares during the period. USS Investment Management Ltd raised its position in ODDITY Tech by 6.4% in the first quarter. USS Investment Management Ltd now owns 14,633 shares of the company’s stock worth $196,000 after purchasing an additional 880 shares in the last quarter. Finally, J. Safra Sarasin Holding AG lifted its stake in ODDITY Tech by 132.6% during the first quarter. J. Safra Sarasin Holding AG now owns 20,000 shares of the company’s stock worth $268,000 after purchasing an additional 11,400 shares during the period. 35.88% of the stock is owned by institutional investors.

About ODDITY Tech

ODDITY Tech Ltd. is a technology-driven beauty and wellness company that develops and markets consumer brands through digital, direct-to-consumer channels. The company uses data science, artificial intelligence and technology-enabled personalization to help consumers discover products and make purchasing decisions online.

ODDITY’s portfolio includes IL MAKIAGE, a digitally native makeup brand known for personalized product recommendations, and SpoiledChild, a beauty and hair-care brand focused on personalized routines and treatments.