Oddity Tech (NASDAQ:ODD) Stock Price Down 4.3% – What’s Next?

Oddity Tech Ltd. (NASDAQ:ODD)’s share price fell 4.3% on Friday . The stock traded as low as $44.12 and last traded at $44.80. 143,034 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 392,895 shares. The stock had previously closed at $46.80.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ODD. KeyCorp boosted their price target on shares of Oddity Tech from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. started coverage on Oddity Tech in a research report on Friday, January 31st. They set an “overweight” rating and a $55.00 price target for the company. Morgan Stanley boosted their price objective on Oddity Tech from $46.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Barclays raised their target price on Oddity Tech from $39.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group initiated coverage on shares of Oddity Tech in a research report on Friday, December 13th. They set a “neutral” rating and a $48.00 price target on the stock. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.11.

Oddity Tech Trading Down 12.5 %

The business’s 50-day simple moving average is $45.28 and its 200 day simple moving average is $41.49. The company has a market capitalization of $2.33 billion, a P/E ratio of 25.02, a P/E/G ratio of 1.51 and a beta of 4.34.

Oddity Tech (NASDAQ:ODD) last announced its earnings results on Wednesday, November 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.22 by $0.10. Oddity Tech had a return on equity of 29.02% and a net margin of 16.32%. The business had revenue of $119.00 million during the quarter, compared to the consensus estimate of $116.47 million. During the same period in the prior year, the business posted $0.06 earnings per share. Oddity Tech’s revenue was up 26.0% compared to the same quarter last year. As a group, sell-side analysts predict that Oddity Tech Ltd. will post 1.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Oddity Tech

Several hedge funds and other institutional investors have recently made changes to their positions in the business. R Squared Ltd acquired a new stake in shares of Oddity Tech during the fourth quarter worth approximately $61,000. Wilmington Savings Fund Society FSB bought a new position in Oddity Tech in the 3rd quarter valued at $99,000. Quarry LP acquired a new position in Oddity Tech during the 3rd quarter worth about $122,000. Mendota Financial Group LLC bought a new stake in shares of Oddity Tech during the third quarter valued at approximately $162,000. Finally, Blue Trust Inc. increased its stake in shares of Oddity Tech by 13.3% in the 3rd quarter. Blue Trust Inc. now owns 4,834 shares of the company’s stock valued at $190,000 after buying an additional 566 shares during the period. 35.88% of the stock is owned by institutional investors and hedge funds.

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.