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

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

A number of other equities analysts also recently weighed in on ODD. The Goldman Sachs Group downgraded shares of ODDITY Tech from a “hold” rating to a “sell” rating and dropped their target price for the stock from $16.00 to $8.00 in a research note on Wednesday, June 3rd. KeyCorp reissued a “sector weight” rating on shares of ODDITY Tech in a report on Wednesday, June 3rd. Needham & Company LLC restated a “hold” rating on shares of ODDITY Tech in a research report on Tuesday, June 2nd. Morgan Stanley reduced their price objective on ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 3rd. Finally, Wall Street Zen lowered ODDITY Tech from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. Nine investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $25.39.

ODDITY Tech Stock Performance

Shares of NASDAQ:ODD opened at $15.22 on Tuesday. The business has a fifty day moving average of $14.30 and a 200-day moving average of $17.53. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.86 and a current ratio of 4.06. ODDITY Tech has a twelve month low of $9.25 and a twelve month high of $64.23. The firm has a market cap of $876.29 million, a PE ratio of 19.27 and a beta of 2.38.

ODDITY Tech (NASDAQ:ODD) last issued its quarterly earnings results 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). ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The company had revenue of $197.94 million for the quarter, compared to analyst estimates of $187.87 million. During the same quarter last year, the company earned $0.69 EPS. The firm’s quarterly revenue was down 26.2% on a year-over-year basis. On average, equities research analysts predict that ODDITY Tech will post -0.55 EPS for the current fiscal year.

Insider Transactions at ODDITY Tech

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 109,602 shares of ODDITY Tech stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $15.09, for a total value of $1,653,894.18. Following the sale, the chief financial officer owned 77,709 shares of the company’s stock, valued at $1,172,628.81. This trade represents a 58.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 three months, insiders sold 130,678 shares of company stock worth $1,956,201.

Hedge Funds Weigh In On ODDITY Tech

A number of large investors have recently bought and sold shares of ODD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of ODDITY Tech by 16.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,117 shares of the company’s stock valued at $3,293,000 after buying an additional 10,582 shares in the last quarter. Geode Capital Management LLC increased its position in ODDITY Tech by 12.9% during the second quarter. Geode Capital Management LLC now owns 75,063 shares of the company’s stock worth $5,660,000 after buying an additional 8,561 shares during the last quarter. Legal & General Group Plc bought a new stake in ODDITY Tech in the second quarter valued at approximately $71,000. American Century Companies Inc. raised its stake in ODDITY Tech by 17.3% in the second quarter. American Century Companies Inc. now owns 14,300 shares of the company’s stock valued at $1,079,000 after buying an additional 2,105 shares during the period. Finally, Invesco Ltd. acquired a new stake in shares of ODDITY Tech in the second quarter valued at approximately $327,000. 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. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.