ODDITY Tech (NASDAQ:ODD) Stock Rating Upgraded by Wall Street Zen

ODDITY Tech (NASDAQ:ODD) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Sunday, Wall Street Zen reports.

Several other equities analysts have also commented on the company. Bank of America reaffirmed an “underperform” rating on shares of ODDITY Tech in a research note on Thursday, September 10th. Truist Financial raised their price objective on ODDITY Tech from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, September 10th. Morgan Stanley raised their price objective on ODDITY Tech from $16.50 to $18.50 and gave the stock an “equal weight” rating in a research report on Thursday, October 15th. Citigroup restated a “market perform” rating on shares of ODDITY Tech in a report on Thursday, September 10th. Finally, Weiss Ratings raised shares of ODDITY Tech from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $22.35.

ODDITY Tech Stock Up 2.7%

Shares of NASDAQ ODD opened at $23.03 on Friday. The company has a market capitalization of $1.33 billion, a P/E ratio of 95.96 and a beta of 2.24. The company has a debt-to-equity ratio of 2.21, a current ratio of 3.45 and a quick ratio of 2.11. The company has a 50 day simple moving average of $16.87 and a 200-day simple moving average of $15.13. ODDITY Tech has a 1 year low of $9.25 and a 1 year high of $52.00.

ODDITY Tech (NASDAQ:ODD) last released its quarterly earnings data on Wednesday, September 9th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. The firm had revenue of $180.52 million for the quarter, compared to analysts’ expectations of $178.23 million. ODDITY Tech had a return on equity of 2.58% and a net margin of 2.23%. The firm’s quarterly revenue was down 24.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 earnings per share. On average, equities research analysts predict that ODDITY Tech will post -0.25 earnings per share for the current year.

Insider Transactions at ODDITY Tech

In other ODDITY Tech news, CFO Mann Drucker sold 7,717 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $15.09, for a total value of $116,449.53. Following the sale, the chief financial officer owned 116,135 shares of the company’s stock, valued at $1,752,477.15. The trade was a 6.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 62,852 shares of company stock valued at $938,716 over the last 90 days.

Institutional Investors Weigh In On ODDITY Tech

Institutional investors have recently modified their holdings of the company. Juncture Wealth Strategies LLC boosted its holdings in ODDITY Tech by 17.8% during the 3rd quarter. Juncture Wealth Strategies LLC now owns 27,119 shares of the company’s stock valued at $506,000 after acquiring an additional 4,097 shares during the period. State Street Corp increased its stake in ODDITY Tech by 123.5% during the second quarter. State Street Corp now owns 836,446 shares of the company’s stock worth $12,655,000 after purchasing an additional 462,137 shares during the period. K5 Global Advisor LLC acquired a new stake in shares of ODDITY Tech during the second quarter worth about $375,000. Sigma Planning Corp lifted its position in shares of ODDITY Tech by 37.7% during the second quarter. Sigma Planning Corp now owns 14,510 shares of the company’s stock worth $220,000 after purchasing an additional 3,975 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of ODDITY Tech during the second quarter worth about $300,000. 35.88% of the stock is owned by institutional investors and hedge funds.

ODDITY Tech Company Profile

ODDITY Tech Ltd. is a technology-driven beauty and wellness company that develops and markets consumer brands through digital, direct-to-consumer channels. The company uses data science, artificial intelligence and technology-enabled personalization to help consumers discover products and make purchasing decisions online.

ODDITY’s portfolio includes IL MAKIAGE, a digitally native makeup brand known for personalized product recommendations, and SpoiledChild, a beauty and hair-care brand focused on personalized routines and treatments.