Oddity Tech (NASDAQ:ODD) Trading 1.9% Higher

Oddity Tech Ltd. (NASDAQ:ODD) shares shot up 1.9% during mid-day trading on Tuesday . The stock traded as high as $45.04 and last traded at $44.49. 26,934 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 919,810 shares. The stock had previously closed at $43.64.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ODD shares. Evercore ISI began coverage on shares of Oddity Tech in a research note on Thursday, April 4th. They issued an “outperform” rating and a $57.00 price target on the stock. Morgan Stanley increased their price target on Oddity Tech from $35.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. Bank of America boosted their price target on Oddity Tech from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Truist Financial reissued a “buy” rating and issued a $58.00 target price on shares of Oddity Tech in a research note on Friday. Finally, JMP Securities restated a “market outperform” rating and set a $66.00 price objective on shares of Oddity Tech in a research note on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Oddity Tech has a consensus rating of “Moderate Buy” and an average price target of $53.75.

Oddity Tech Stock Performance

The stock has a market cap of $2.51 billion and a price-to-earnings ratio of 37.37. The stock has a fifty day simple moving average of $36.46 and a two-hundred day simple moving average of $40.34.

Oddity Tech (NASDAQ:ODD) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.12. Oddity Tech had a net margin of 12.97% and a return on equity of 26.10%. The business had revenue of $211.63 million during the quarter, compared to analysts’ expectations of $205.55 million. Equities analysts expect that Oddity Tech Ltd. will post 1.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Oddity Tech

A number of institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC increased its holdings in Oddity Tech by 69.7% in the fourth quarter. Parallel Advisors LLC now owns 594 shares of the company’s stock worth $28,000 after purchasing an additional 244 shares in the last quarter. M&T Bank Corp acquired a new position in shares of Oddity Tech during the 4th quarter valued at $203,000. Greycroft LP bought a new position in Oddity Tech during the third quarter worth $227,000. Janney Montgomery Scott LLC acquired a new stake in Oddity Tech in the first quarter worth $301,000. Finally, Legato Capital Management LLC bought a new stake in Oddity Tech in the fourth quarter valued at $336,000. Institutional investors own 35.88% of the company’s stock.

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.