Oddity Tech (NASDAQ:ODD) Sees Strong Trading Volume – Here’s What Happened

Oddity Tech Ltd. (NASDAQ:ODD) saw strong trading volume on Tuesday . 653,072 shares traded hands during trading, an increase of 14% from the previous session’s volume of 571,325 shares.The stock last traded at $70.40 and had previously closed at $69.46.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ODD. JPMorgan Chase & Co. upped their price target on Oddity Tech from $63.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 3rd. Truist Financial raised their price target on shares of Oddity Tech from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, May 1st. JMP Securities reiterated a “market outperform” rating and set a $66.00 price objective on shares of Oddity Tech in a research note on Tuesday, April 22nd. KeyCorp cut their target price on shares of Oddity Tech from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group upped their price target on shares of Oddity Tech from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

Oddity Tech Stock Up 1.3%

The firm’s 50 day moving average price is $57.28 and its two-hundred day moving average price is $49.25. The firm has a market capitalization of $3.93 billion, a PE ratio of 42.86, a P/E/G ratio of 1.48 and a beta of 3.45.

Oddity Tech (NASDAQ:ODD) last announced its earnings results on Tuesday, April 29th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.06. Oddity Tech had a return on equity of 29.02% and a net margin of 16.32%. The company had revenue of $268.08 million during the quarter, compared to the consensus estimate of $260.71 million. During the same period last year, the firm earned $0.61 earnings per share. The company’s revenue was up 26.7% on a year-over-year basis. On average, sell-side analysts anticipate that Oddity Tech Ltd. will post 1.62 earnings per share for the current fiscal year.

Institutional Trading of Oddity Tech

A number of hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. raised its holdings in Oddity Tech by 4.8% in the first quarter. Baillie Gifford & Co. now owns 6,255,326 shares of the company’s stock valued at $270,605,000 after acquiring an additional 285,745 shares in the last quarter. Granahan Investment Management LLC increased its position in shares of Oddity Tech by 1.1% in the 1st quarter. Granahan Investment Management LLC now owns 1,555,191 shares of the company’s stock worth $67,278,000 after purchasing an additional 16,993 shares during the last quarter. Bamco Inc. NY raised its stake in shares of Oddity Tech by 14.7% in the 4th quarter. Bamco Inc. NY now owns 1,429,198 shares of the company’s stock valued at $60,055,000 after purchasing an additional 183,152 shares in the last quarter. Capital International Investors lifted its position in shares of Oddity Tech by 29.5% during the fourth quarter. Capital International Investors now owns 1,365,744 shares of the company’s stock worth $57,389,000 after purchasing an additional 311,401 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Oddity Tech by 0.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,289,493 shares of the company’s stock worth $55,783,000 after purchasing an additional 6,419 shares during the last quarter. 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.