ODDITY Tech (NASDAQ:ODD) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of ODDITY Tech (NASDAQ:ODD) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Several other research firms have also recently issued reports on ODD. Barclays decreased their price objective on shares of ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, June 3rd. Truist Financial lowered their price objective on ODDITY Tech from $18.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, June 3rd. The Goldman Sachs Group downgraded ODDITY Tech from a “hold” rating to a “sell” rating and dropped their price objective for the company from $16.00 to $8.00 in a report on Wednesday, June 3rd. KeyCorp reiterated a “sector weight” rating on shares of ODDITY Tech in a report on Wednesday, June 3rd. Finally, Morgan Stanley cut their target price on ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 3rd. Nine equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $25.39.

ODDITY Tech Trading Down 0.6%

Shares of ODDITY Tech stock opened at $15.22 on Tuesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 4.06 and a quick ratio of 2.86. The stock’s 50 day simple moving average is $14.30 and its 200-day simple moving average is $17.53. The stock has a market cap of $876.29 million, a P/E ratio of 19.27 and a beta of 2.38. ODDITY Tech has a 1-year low of $9.25 and a 1-year high of $64.23.

ODDITY Tech (NASDAQ:ODD) last issued its 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 net margin of 6.97% and a return on equity of 15.38%. The company had revenue of $197.94 million during the quarter, compared to analysts’ expectations of $187.87 million. During the same quarter in the previous year, the company earned $0.69 earnings per share. The firm’s quarterly revenue was down 26.2% compared to the same quarter last year. Analysts predict that ODDITY Tech will post -0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 11,473 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $15.10, for a total value of $173,242.30. Following the completion of the transaction, the chief financial officer owned 104,492 shares in the company, valued at $1,577,829.20. This represents a 9.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 130,678 shares of company stock valued at $1,956,201 over the last three months.

Institutional Trading of ODDITY Tech

Hedge funds and other institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. boosted its stake in shares of ODDITY Tech by 17.8% during the fourth quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company’s stock worth $286,188,000 after buying an additional 1,076,921 shares during the period. Peregrine Capital Management LLC increased its position in ODDITY Tech by 31.2% in the 4th quarter. Peregrine Capital Management LLC now owns 190,485 shares of the company’s stock valued at $7,654,000 after acquiring an additional 45,253 shares during the period. Sparta 24 Ltd. acquired a new position in ODDITY Tech in the 1st quarter valued at about $1,082,000. Halter Ferguson Financial Inc. purchased a new stake in ODDITY Tech during the 1st quarter valued at approximately $2,789,000. Finally, Rice Hall James & Associates LLC purchased a new stake in ODDITY Tech during the 1st quarter valued at approximately $3,533,000. 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.