ODDITY Tech (NASDAQ:ODD) Stock Price Up 4.5% – Should You Buy?

ODDITY Tech Ltd. (NASDAQ:ODD) rose 4.5% on Wednesday . The company traded as high as $15.12 and last traded at $14.84. 131,181 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 1,660,141 shares. The stock had previously closed at $14.20.

Analyst Ratings Changes

ODD has been the topic of several recent research reports. The Goldman Sachs Group cut shares of ODDITY Tech from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $16.00 to $8.00 in a research note on Wednesday, June 3rd. Truist Financial reduced their target price on shares of ODDITY Tech from $18.00 to $12.00 and set a “hold” rating for the company in a report on Wednesday, June 3rd. Zacks Research upgraded shares of ODDITY Tech from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Needham & Company LLC restated a “hold” rating on shares of ODDITY Tech in a research report on Tuesday, June 2nd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $10.25 price target on shares of ODDITY Tech in a report on Tuesday, June 2nd. Nine research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $25.39.

ODDITY Tech Stock Performance

The company has a debt-to-equity ratio of 1.96, a current ratio of 4.06 and a quick ratio of 2.86. The firm has a market capitalization of $856.50 million, a PE ratio of 18.81 and a beta of 2.38. The firm has a fifty day moving average price of $14.80 and a 200 day moving average price of $15.46.

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

Insider Activity at ODDITY Tech

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 109,602 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $15.09, for a total value of $1,653,894.18. Following the completion of the transaction, the chief financial officer directly owned 77,709 shares in the company, valued at $1,172,628.81. This trade represents a 58.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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. Insiders have sold 130,678 shares of company stock valued at $1,956,201 in the last ninety days.

Institutional Investors Weigh In On ODDITY Tech

Several hedge funds have recently made changes to their positions in ODD. Wexford Capital LP acquired a new position in ODDITY Tech in the 3rd quarter worth approximately $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in ODDITY Tech by 134.8% during 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. Legal & General Group Plc purchased a new position in ODDITY Tech during the 2nd quarter worth approximately $71,000. SG Americas Securities LLC acquired a new stake in ODDITY Tech during the 1st quarter valued at $104,000. Finally, Headlands Technologies LLC acquired a new stake in ODDITY Tech during the 2nd quarter valued at $108,000. Hedge funds and other institutional investors own 35.88% of the company’s stock.

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.