Zacks Research Upgrades ODDITY Tech (NASDAQ:ODD) to “Hold”

ODDITY Tech (NASDAQ:ODD) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

ODD has been the topic of a number of other research reports. KeyCorp reduced their price objective on ODDITY Tech from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 8th. Morgan Stanley lifted their price objective on ODDITY Tech from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Needham & Company LLC initiated coverage on ODDITY Tech in a research report on Thursday, August 28th. They set a “buy” rating and a $72.00 price objective on the stock. Barclays lifted their price objective on ODDITY Tech from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Finally, Jefferies Financial Group started coverage on ODDITY Tech in a research note on Wednesday, September 24th. They set a “buy” rating and a $78.00 target price for the company. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, ODDITY Tech has a consensus rating of “Moderate Buy” and an average target price of $73.90.

ODDITY Tech Stock Performance

Shares of ODDITY Tech stock opened at $42.30 on Tuesday. ODDITY Tech has a one year low of $35.30 and a one year high of $79.18. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 2.04 and a beta of 3.15. The company has a debt-to-equity ratio of 1.66, a quick ratio of 5.57 and a current ratio of 6.32. The business’s 50 day moving average price is $55.94 and its 200 day moving average price is $62.83.

ODDITY Tech (NASDAQ:ODD) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. ODDITY Tech had a return on equity of 32.17% and a net margin of 14.65%.The firm had revenue of $241.14 million for the quarter, compared to the consensus estimate of $237.44 million. During the same quarter last year, the business posted $0.82 earnings per share. The firm’s revenue was up 25.1% compared to the same quarter last year. On average, research analysts predict that ODDITY Tech will post 1.62 EPS for the current year.

Institutional Investors Weigh In On ODDITY Tech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ODD. Federated Hermes Inc. acquired a new stake in shares of ODDITY Tech in the first quarter valued at $190,000. State of New Jersey Common Pension Fund D grew its stake in shares of ODDITY Tech by 74.9% in the second quarter. State of New Jersey Common Pension Fund D now owns 14,323 shares of the company’s stock valued at $1,081,000 after buying an additional 6,132 shares in the last quarter. Amundi acquired a new stake in shares of ODDITY Tech in the first quarter valued at $4,926,000. Yorktown Management & Research Co Inc acquired a new stake in shares of ODDITY Tech in the second quarter valued at $426,000. Finally, Jennison Associates LLC acquired a new stake in shares of ODDITY Tech in the second quarter valued at $423,000. Institutional investors and hedge funds 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.