ODDITY Tech (NASDAQ:ODD) Upgraded to Hold at Zacks Research

ODDITY Tech (NASDAQ:ODD) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Weiss Ratings reiterated a “hold (c)” rating on shares of ODDITY Tech in a research report on Wednesday, October 8th. Needham & Company LLC began coverage on shares of ODDITY Tech in a report on Thursday, August 28th. They issued a “buy” rating and a $72.00 price objective for the company. KeyCorp lowered their target price on shares of ODDITY Tech from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, October 8th. JMP Securities restated a “market outperform” rating and issued a $80.00 price target on shares of ODDITY Tech in a research report on Tuesday, September 23rd. Finally, Truist Financial boosted their price objective on shares of ODDITY Tech from $65.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, ODDITY Tech presently has an average rating of “Moderate Buy” and an average price target of $73.90.

ODDITY Tech Price Performance

ODD opened at $42.30 on Tuesday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 5.57 and a current ratio of 6.32. ODDITY Tech has a 1-year low of $35.30 and a 1-year high of $79.18. The company has a 50-day moving average of $55.94 and a 200-day moving average of $62.83. The company has a market capitalization of $2.36 billion, a P/E ratio of 23.50, a PEG ratio of 2.04 and a beta of 3.15.

ODDITY Tech (NASDAQ:ODD) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. ODDITY Tech had a return on equity of 32.17% and a net margin of 14.65%.The business had revenue of $241.14 million during the quarter, compared to the consensus estimate of $237.44 million. During the same period last year, the firm earned $0.82 earnings per share. The company’s revenue for the quarter was up 25.1% compared to the same quarter last year. Equities analysts expect that ODDITY Tech will post 1.62 EPS for the current fiscal year.

Institutional Trading of ODDITY Tech

A number of large investors have recently modified their holdings of ODD. Baillie Gifford & Co. boosted its stake in ODDITY Tech by 4.8% during the 1st quarter. Baillie Gifford & Co. now owns 6,255,326 shares of the company’s stock valued at $270,605,000 after purchasing an additional 285,745 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of ODDITY Tech by 1.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,738,125 shares of the company’s stock valued at $108,285,000 after buying an additional 28,930 shares during the last quarter. Granahan Investment Management LLC boosted its position in shares of ODDITY Tech by 1.1% during the first quarter. Granahan Investment Management LLC now owns 1,555,191 shares of the company’s stock worth $67,278,000 after buying an additional 16,993 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in ODDITY Tech by 8,711.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 835,315 shares of the company’s stock worth $63,041,000 after buying an additional 825,835 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in ODDITY Tech by 507.8% in the 2nd quarter. Acadian Asset Management LLC now owns 821,759 shares of the company’s stock valued at $61,984,000 after acquiring an additional 686,549 shares during the period. Institutional investors and hedge funds own 35.88% of the company’s stock.

About ODDITY Tech

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.