ODDITY Tech Ltd. (NASDAQ:ODD) Receives $25.39 Consensus Target Price from Brokerages

ODDITY Tech Ltd. (NASDAQ:ODD) has earned a consensus recommendation of “Reduce” from the thirteen research firms that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $25.3864.

Several research analysts have weighed in on ODD shares. Truist Financial dropped their target price on ODDITY Tech from $18.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, June 3rd. Wall Street Zen lowered ODDITY Tech from a “sell” rating to a “strong sell” rating in a report on Saturday, April 18th. Needham & Company LLC reiterated a “hold” rating on shares of ODDITY Tech in a report on Tuesday, June 2nd. KeyCorp reissued a “sector weight” rating on shares of ODDITY Tech in a research note on Wednesday, June 3rd. Finally, Zacks Research downgraded ODDITY Tech from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th.

Insider Activity at ODDITY Tech

In other news, CFO Mann Lindsay Drucker sold 109,602 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $15.09, for a total transaction of $1,653,894.18. Following the transaction, the chief financial officer owned 77,709 shares in the company, valued at approximately $1,172,628.81. This trade represents a 58.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 128,805 shares of company stock worth $1,932,910.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ODD. Janus Henderson Group PLC boosted its position in ODDITY Tech by 115.0% during the fourth quarter. Janus Henderson Group PLC now owns 2,423,917 shares of the company’s stock worth $97,379,000 after purchasing an additional 1,296,551 shares during the period. Baillie Gifford & Co. lifted its stake in shares of ODDITY Tech by 17.8% in the fourth quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company’s stock valued at $286,188,000 after buying an additional 1,076,921 shares during the period. Morgan Stanley lifted its stake in shares of ODDITY Tech by 13.9% in the fourth quarter. Morgan Stanley now owns 4,305,565 shares of the company’s stock valued at $172,998,000 after buying an additional 525,481 shares during the period. Wellington Management Group LLP acquired a new stake in ODDITY Tech during the third quarter worth about $27,838,000. Finally, Altshuler Shaham Ltd grew its position in ODDITY Tech by 364.7% during the fourth quarter. Altshuler Shaham Ltd now owns 500,714 shares of the company’s stock worth $20,119,000 after buying an additional 392,967 shares in the last quarter. Institutional investors and hedge funds own 35.88% of the company’s stock.

ODDITY Tech Trading Up 7.1%

NASDAQ ODD opened at $16.43 on Friday. ODDITY Tech has a 1-year low of $9.25 and a 1-year high of $75.45. The company has a current ratio of 4.06, a quick ratio of 2.86 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $946.04 million, a PE ratio of 20.80 and a beta of 2.37. The firm’s fifty day simple moving average is $13.89 and its 200-day simple moving average is $18.54.

ODDITY Tech (NASDAQ:ODD) last announced its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The firm had revenue of $197.94 million for the quarter, compared to analysts’ expectations of $187.87 million. ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.ODDITY Tech’s revenue was down 26.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.69 earnings per share. As a group, sell-side analysts anticipate that ODDITY Tech will post -0.55 earnings per share for the current fiscal year.

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. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.