ODDITY Tech (NASDAQ:ODD) Shares Gap Down – What’s Next?

ODDITY Tech Ltd. (NASDAQ:ODD)’s share price gapped down prior to trading on Monday . The stock had previously closed at $13.11, but opened at $12.57. ODDITY Tech shares last traded at $12.2490, with a volume of 119,356 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. KeyCorp reaffirmed a “sector weight” rating on shares of ODDITY Tech in a report on Wednesday, June 3rd. Zacks Research raised shares of ODDITY Tech from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Needham & Company LLC restated a “hold” rating on shares of ODDITY Tech in a research report on Tuesday, June 2nd. Morgan Stanley decreased their price target on shares of ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 3rd. Finally, The Goldman Sachs Group cut ODDITY Tech from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $16.00 to $8.00 in a report on Wednesday, June 3rd. Nine research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $25.39.

ODDITY Tech Stock Up 1.7%

The business has a fifty day simple moving average of $14.60 and a two-hundred day simple moving average of $16.13. 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 cap of $708.23 million, a PE ratio of 15.57 and a beta of 2.38.

ODDITY Tech (NASDAQ:ODD) last announced 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). The business had revenue of $197.94 million for the quarter, compared to analyst estimates of $187.87 million. ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The company’s revenue for the quarter was down 26.2% compared to the same quarter last year. During the same period last year, the firm earned $0.69 EPS. As a group, equities research analysts predict that ODDITY Tech Ltd. will post -0.55 earnings per share for the current year.

Insider Transactions at ODDITY Tech

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 11,473 shares of the stock in a transaction dated 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 sale, the chief financial officer owned 104,492 shares in the company, valued at approximately $1,577,829.20. This represents a 9.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 130,678 shares of company stock worth $1,956,201.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wexford Capital LP acquired a new position in ODDITY Tech during the third quarter worth $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of ODDITY Tech by 134.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company’s stock worth $69,000 after acquiring an additional 651 shares during the period. Legal & General Group Plc purchased a new position in shares of ODDITY Tech during the 2nd quarter worth $71,000. SG Americas Securities LLC acquired a new position in shares of ODDITY Tech during the 1st quarter valued at about $104,000. Finally, Headlands Technologies LLC acquired a new position in shares of ODDITY Tech during the 2nd quarter valued at about $108,000. 35.88% of the stock is currently owned by institutional investors and hedge funds.

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.