ODDITY Tech (NASDAQ:ODD) Stock Rating Lowered by Jefferies Financial Group

ODDITY Tech (NASDAQ:ODD) was downgraded by research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report released on Wednesday, MarketBeat Ratings reports. They currently have a $18.00 target price on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 25.64% from the company’s current price.

Other analysts also recently issued reports about the stock. Barclays lowered their price target on shares of ODDITY Tech from $64.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, November 21st. Zacks Research lowered ODDITY Tech from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Morgan Stanley reduced their price target on ODDITY Tech from $61.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Friday, November 21st. JPMorgan Chase & Co. lowered their price objective on ODDITY Tech from $67.00 to $59.00 and set an “overweight” rating for the company in a research report on Friday, December 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of ODDITY Tech in a research note on Thursday, November 20th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.40.

ODDITY Tech Price Performance

NASDAQ:ODD traded down $14.69 during mid-day trading on Wednesday, reaching $14.33. The stock had a trading volume of 9,502,331 shares, compared to its average volume of 1,327,840. The stock has a market capitalization of $799.88 million, a P/E ratio of 7.85, a P/E/G ratio of 1.19 and a beta of 3.18. The firm has a 50 day moving average price of $35.08 and a two-hundred day moving average price of $46.02. The company has a debt-to-equity ratio of 1.53, a quick ratio of 6.42 and a current ratio of 7.54. ODDITY Tech has a one year low of $13.09 and a one year high of $79.18.

ODDITY Tech (NASDAQ:ODD) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. ODDITY Tech had a net margin of 14.11% and a return on equity of 31.68%. The firm had revenue of $152.73 million during the quarter, compared to analyst estimates of $151.11 million. During the same period in the previous year, the business posted $0.20 EPS. The business’s quarterly revenue was up 23.8% on a year-over-year basis. As a group, analysts expect that ODDITY Tech will post 1.62 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ODD. Baillie Gifford & Co. grew its stake in ODDITY Tech by 17.8% in the fourth quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company’s stock worth $286,188,000 after purchasing an additional 1,076,921 shares during the period. Morgan Stanley grew its position in shares of ODDITY Tech by 13.9% in the 4th quarter. Morgan Stanley now owns 4,305,565 shares of the company’s stock worth $172,998,000 after buying an additional 525,481 shares during the period. Janus Henderson Group PLC increased its stake in shares of ODDITY Tech by 115.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,423,917 shares of the company’s stock worth $97,379,000 after acquiring an additional 1,296,551 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of ODDITY Tech by 1.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,738,125 shares of the company’s stock worth $108,285,000 after acquiring an additional 28,930 shares in the last quarter. Finally, Granahan Investment Management LLC lifted its position in ODDITY Tech by 1.1% during the 4th quarter. Granahan Investment Management LLC now owns 1,523,204 shares of the company’s stock valued at $61,202,000 after acquiring an additional 16,747 shares during the period. Hedge funds and other institutional investors 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. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.