ODDITY Tech (NASDAQ:ODD) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of ODDITY Tech (NASDAQ:ODD) in a research note released on Monday morning, MarketBeat.com reports. The brokerage issued a neutral rating and a $18.00 target price on the stock.

A number of other brokerages also recently issued reports on ODD. Citigroup reissued a “market perform” rating on shares of ODDITY Tech in a research report on Thursday, September 10th. KeyCorp reiterated a “sector weight” rating on shares of ODDITY Tech in a research report on Wednesday, June 3rd. Morgan Stanley boosted their price target on ODDITY Tech from $10.00 to $16.50 and gave the company an “equal weight” rating in a report on Thursday, September 10th. Wall Street Zen raised ODDITY Tech from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 12th. Finally, The Goldman Sachs Group cut ODDITY Tech from a “hold” rating to a “sell” rating and lowered their price objective for the company from $16.00 to $8.00 in a research report on Wednesday, June 3rd. Ten analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $22.15.

ODDITY Tech Stock Performance

ODD opened at $17.83 on Monday. The company has a current ratio of 3.45, a quick ratio of 2.11 and a debt-to-equity ratio of 2.21. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 74.29 and a beta of 2.38. The company’s 50 day moving average is $15.16 and its 200 day moving average is $14.31. ODDITY Tech has a 12-month low of $9.25 and a 12-month high of $63.56.

ODDITY Tech (NASDAQ:ODD) last announced its earnings results on Wednesday, September 9th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. ODDITY Tech had a net margin of 2.23% and a return on equity of 2.58%. The company had revenue of $180.52 million during the quarter, compared to analyst estimates of $178.23 million. During the same period in the previous year, the business posted $0.92 earnings per share. The firm’s quarterly revenue was down 24.9% compared to the same quarter last year. On average, equities research analysts predict that ODDITY Tech will post -0.15 EPS for the current year.

Insider Activity

In other news, CFO Mann Drucker sold 7,717 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $15.09, for a total value of $116,449.53. Following the transaction, the chief financial officer owned 116,135 shares of the company’s stock, valued at approximately $1,752,477.15. The trade was a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 172,454 shares of company stock worth $2,592,610 in the last quarter.

Hedge Funds Weigh In On ODDITY Tech

Several institutional investors have recently bought and sold shares of the stock. Granahan Investment Management LLC lifted its stake in ODDITY Tech by 1.1% in the 4th quarter. Granahan Investment Management LLC now owns 1,523,204 shares of the company’s stock worth $61,202,000 after purchasing an additional 16,747 shares in the last quarter. State Street Corp boosted its holdings in shares of ODDITY Tech by 123.5% during the 2nd quarter. State Street Corp now owns 836,446 shares of the company’s stock valued at $12,655,000 after purchasing an additional 462,137 shares during the last quarter. Ashford Capital Management Inc. boosted its holdings in shares of ODDITY Tech by 25.0% during the 4th quarter. Ashford Capital Management Inc. now owns 685,972 shares of the company’s stock valued at $27,562,000 after purchasing an additional 137,380 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd grew its position in shares of ODDITY Tech by 110.6% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 590,300 shares of the company’s stock valued at $23,718,000 after purchasing an additional 310,000 shares in the last quarter. Finally, Altshuler Shaham Ltd grew its position in shares of ODDITY Tech by 364.7% during the fourth quarter. Altshuler Shaham Ltd now owns 500,714 shares of the company’s stock valued at $20,119,000 after purchasing an additional 392,967 shares in the last quarter. 35.88% of the stock is owned by hedge funds and other institutional investors.

ODDITY Tech Company Profile

ODDITY Tech Ltd. is a technology and consumer products company focused on beauty and wellness. The company combines data science, artificial intelligence and digital commerce to develop, market and sell products directly to consumers, with an emphasis on personalized shopping experiences and digitally native brands.

ODDITY’s portfolio includes IL MAKIAGE, a digitally focused makeup brand known for personalized product recommendations, and SpoiledChild, a beauty and hair-care brand. Its offerings include cosmetics, skin-care, hair-care and related beauty products sold primarily through online channels.

Founded in 2018 by Oran Holtzman and Lihi Pinto Fryman, ODDITY is headquartered in New York and operates technology and research capabilities in Tel Aviv.