Oddity Tech (NASDAQ:ODD) Shares Up 6.8% Following Analyst Upgrade

Shares of Oddity Tech Ltd. (NASDAQ:ODD) were up 6.8% during mid-day trading on Friday after Barclays raised their price target on the stock from $42.00 to $46.00. Barclays currently has an equal weight rating on the stock. Oddity Tech traded as high as $47.75 and last traded at $48.19. Approximately 111,068 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 452,347 shares. The stock had previously closed at $45.11.

Several other analysts also recently issued reports on the company. Bank of America boosted their price target on Oddity Tech from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley boosted their price target on Oddity Tech from $46.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. began coverage on Oddity Tech in a report on Friday, January 31st. They issued an “overweight” rating and a $55.00 price objective for the company. KeyCorp upped their target price on Oddity Tech from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group started coverage on Oddity Tech in a research report on Friday, December 13th. They issued 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 given a buy rating to the company. Based on data from MarketBeat.com, Oddity Tech currently has an average rating of “Moderate Buy” and a consensus target price of $54.44.

Institutional Investors Weigh In On Oddity Tech

Several large investors have recently added to or reduced their stakes in ODD. Granahan Investment Management LLC boosted its holdings in Oddity Tech by 15.9% in the 4th quarter. Granahan Investment Management LLC now owns 1,538,198 shares of the company’s stock worth $64,635,000 after buying an additional 211,485 shares during the period. Bamco Inc. NY grew its holdings in Oddity Tech by 14.7% during the 4th quarter. Bamco Inc. NY now owns 1,429,198 shares of the company’s stock valued at $60,055,000 after buying an additional 183,152 shares in the last quarter. Capital International Investors increased its position in shares of Oddity Tech by 29.5% during the fourth quarter. Capital International Investors now owns 1,365,744 shares of the company’s stock valued at $57,389,000 after buying an additional 311,401 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Oddity Tech by 0.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,283,074 shares of the company’s stock valued at $53,915,000 after acquiring an additional 11,716 shares during the period. Finally, Janus Henderson Group PLC grew its stake in Oddity Tech by 71.9% during the fourth quarter. Janus Henderson Group PLC now owns 846,281 shares of the company’s stock valued at $35,539,000 after acquiring an additional 354,083 shares in the last quarter. Hedge funds and other institutional investors own 35.88% of the company’s stock.

Oddity Tech Trading Up 5.8 %

The firm has a market cap of $2.71 billion, a P/E ratio of 29.38, a price-to-earnings-growth ratio of 1.48 and a beta of 4.34. The stock’s fifty day moving average is $44.16 and its two-hundred day moving average is $41.89.

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.