Oddity Tech (NASDAQ:ODD) Updates FY24 Earnings Guidance

Oddity Tech (NASDAQ:ODD) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.57-1.62 for the period, compared to the consensus EPS estimate of $1.41. The company issued revenue guidance of $626-635 million, compared to the consensus revenue estimate of $626.62 million. Oddity Tech also updated its Q2 guidance to $0.61-0.64 EPS.

Oddity Tech Stock Down 4.4 %

ODD stock traded down $1.67 during mid-day trading on Friday, hitting $36.34. 418,848 shares of the company were exchanged, compared to its average volume of 869,807. The business has a fifty day simple moving average of $38.87 and a 200-day simple moving average of $38.87. The firm has a market capitalization of $2.07 billion and a P/E ratio of 31.68. Oddity Tech has a 12-month low of $24.12 and a 12-month high of $56.00.

Oddity Tech (NASDAQ:ODD) last released its quarterly earnings results on Tuesday, March 5th. The company reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. Oddity Tech had a return on equity of 26.22% and a net margin of 11.51%. The company had revenue of $97.25 million for the quarter, compared to analysts’ expectations of $86.38 million. Research analysts predict that Oddity Tech will post 1.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Bank of America raised their price objective on shares of Oddity Tech from $44.00 to $50.00 and gave the company a buy rating in a research note on Thursday, March 7th. JMP Securities reiterated a market outperform rating and issued a $66.00 price objective on shares of Oddity Tech in a research note on Thursday, March 7th. Barclays lowered their target price on Oddity Tech from $46.00 to $44.00 and set an equal weight rating for the company in a research note on Friday, April 12th. Evercore ISI initiated coverage on Oddity Tech in a research note on Thursday, April 4th. They issued an outperform rating and a $57.00 price objective for the company. Finally, Morgan Stanley upped their target price on shares of Oddity Tech from $35.00 to $47.00 and gave the stock an equal weight rating in a research note on Thursday, March 7th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $53.63.

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.