ODDITY Tech (NASDAQ:ODD) Shares Up 6.7% – Should You Buy?

ODDITY Tech Ltd. (NASDAQ:ODD)’s share price rose 6.7% on Wednesday . The stock traded as high as $17.25 and last traded at $17.4510. Approximately 42,389 shares were traded during mid-day trading, a decline of 98% from the average session volume of 1,862,624 shares. The stock had previously closed at $16.35.

Analyst Upgrades and Downgrades

ODD has been the subject of a number of research analyst reports. Wall Street Zen cut ODDITY Tech from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. Zacks Research lowered ODDITY Tech from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. The Goldman Sachs Group cut ODDITY Tech from a “hold” rating to a “sell” rating and reduced their price objective for the company from $16.00 to $8.00 in a research note on Wednesday, June 3rd. Jefferies Financial Group reissued a “hold” rating and issued a $10.25 price objective on shares of ODDITY Tech in a report on Tuesday, June 2nd. Finally, Morgan Stanley lowered their target price on shares of ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 3rd. Eight equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, ODDITY Tech has an average rating of “Reduce” and a consensus target price of $25.39.

ODDITY Tech Stock Down 6.3%

The firm has a market cap of $940.86 million, a price-to-earnings ratio of 20.68 and a beta of 2.37. The firm’s 50 day moving average price is $13.47 and its two-hundred day moving average price is $19.72. The company has a debt-to-equity ratio of 1.96, a current ratio of 4.06 and a quick ratio of 2.86.

ODDITY Tech (NASDAQ:ODD) last released its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). The company had revenue of $197.94 million for 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%.The business’s quarterly revenue was down 26.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 EPS. As a group, sell-side analysts forecast that ODDITY Tech Ltd. will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling at ODDITY Tech

In other news, CFO Mann Lindsay Drucker sold 109,602 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 77,709 shares of the company’s stock, valued at approximately $1,172,628.81. The trade was a 58.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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. In the last quarter, insiders sold 128,805 shares of company stock valued at $1,932,910.

Institutional Investors Weigh In On ODDITY Tech

Hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. increased its stake in ODDITY Tech by 17.8% in the 4th quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company’s stock valued at $286,188,000 after buying an additional 1,076,921 shares during the period. Morgan Stanley lifted its stake in shares of ODDITY Tech by 13.9% in the 4th quarter. Morgan Stanley now owns 4,305,565 shares of the company’s stock worth $172,998,000 after acquiring an additional 525,481 shares during the period. Janus Henderson Group PLC lifted 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 acquiring an additional 1,296,551 shares during the period. Granahan Investment Management LLC lifted its stake in shares of ODDITY Tech by 1.1% in the 4th quarter. Granahan Investment Management LLC now owns 1,523,204 shares of the company’s stock worth $61,202,000 after acquiring an additional 16,747 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of ODDITY Tech by 6.2% in the third quarter. JPMorgan Chase & Co. now owns 713,447 shares of the company’s stock valued at $44,448,000 after acquiring an additional 41,723 shares in the last quarter. 35.88% of the stock is owned by institutional investors and hedge funds.

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.