ODDITY Tech (NASDAQ:ODD) Stock Rating Upgraded by Zacks Research

ODDITY Tech (NASDAQ:ODD) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday, Zacks reports.

ODD has been the topic of several other reports. Citigroup reiterated a “market perform” rating on shares of ODDITY Tech in a research report on Thursday, September 10th. Wall Street Zen lowered shares of ODDITY Tech from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 10th. Needham & Company LLC restated a “hold” rating on shares of ODDITY Tech in a research note on Tuesday, September 8th. JPMorgan Chase & Co. initiated coverage on shares of ODDITY Tech in a research note on Monday, September 21st. They set a “neutral” rating and a $18.00 price target for the company. Finally, Bank of America reaffirmed an “underperform” rating on shares of ODDITY Tech in a report on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, ODDITY Tech presently has an average rating of “Reduce” and a consensus target price of $22.35.

ODDITY Tech Stock Up 7.1%

ODD opened at $23.17 on Wednesday. ODDITY Tech has a fifty-two week low of $9.25 and a fifty-two week high of $52.00. The company has a debt-to-equity ratio of 2.21, a current ratio of 3.45 and a quick ratio of 2.11. The firm’s fifty day moving average price is $16.50 and its two-hundred day moving average price is $14.99. The company has a market capitalization of $1.33 billion, a P/E ratio of 96.54 and a beta of 2.24.

ODDITY Tech (NASDAQ:ODD) last announced its quarterly earnings results on Wednesday, September 9th. The company reported $0.20 earnings per share (EPS) 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 firm had revenue of $180.52 million for the quarter, compared to analyst estimates of $178.23 million. During the same quarter in the previous year, the firm posted $0.92 EPS. The business’s revenue for the quarter was down 24.9% on a year-over-year basis. On average, analysts anticipate that ODDITY Tech will post -0.25 EPS for the current year.

Insiders Place Their Bets

In other ODDITY Tech news, CFO Mann Drucker sold 7,717 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 116,135 shares in the company, valued at $1,752,477.15. This represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 62,852 shares of company stock valued at $938,716 in the last quarter.

Institutional Investors Weigh In On ODDITY Tech

Institutional investors and hedge funds have recently made changes to their positions in the company. Juncture Wealth Strategies LLC grew its holdings in shares of ODDITY Tech by 17.8% in the 3rd quarter. Juncture Wealth Strategies LLC now owns 27,119 shares of the company’s stock worth $506,000 after purchasing an additional 4,097 shares during the last quarter. State Street Corp increased its position in shares of ODDITY Tech by 123.5% during the 2nd quarter. State Street Corp now owns 836,446 shares of the company’s stock worth $12,655,000 after purchasing an additional 462,137 shares in the last quarter. K5 Global Advisor LLC bought a new position in ODDITY Tech during the 2nd quarter valued at about $375,000. Sigma Planning Corp lifted its holdings in ODDITY Tech by 37.7% during the 2nd quarter. Sigma Planning Corp now owns 14,510 shares of the company’s stock valued at $220,000 after purchasing an additional 3,975 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in ODDITY Tech during the 2nd quarter valued at about $300,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

ODDITY Tech Company Profile

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.