ODDITY Tech (NASDAQ:ODD) Hits New 1-Year Low – Here’s What Happened

Shares of ODDITY Tech Ltd. (NASDAQ:ODD) reached a new 52-week low during trading on Tuesday . The company traded as low as $10.80 and last traded at $12.31, with a volume of 6124382 shares trading hands. The stock had previously closed at $11.77.

Analyst Ratings Changes

Several research firms have commented on ODD. Jefferies Financial Group lowered shares of ODDITY Tech from a “buy” rating to a “hold” rating and decreased their target price for the company from $64.00 to $18.00 in a report on Wednesday, February 25th. KeyCorp reduced their price target on shares of ODDITY Tech from $50.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. Wall Street Zen cut shares of ODDITY Tech from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Citizens Jmp downgraded shares of ODDITY Tech from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Finally, Bank of America downgraded ODDITY Tech from a “buy” rating to an “underperform” rating and set a $10.00 target price on the stock. in a report on Thursday, February 26th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $31.73.

ODDITY Tech Stock Performance

The stock’s 50-day moving average is $31.60 and its 200-day moving average is $44.17. The firm has a market capitalization of $725.79 million, a price-to-earnings ratio of 7.22, a PEG ratio of 1.61 and a beta of 3.54. The company has a current ratio of 5.24, a quick ratio of 4.06 and a debt-to-equity ratio of 1.47.

ODDITY Tech (NASDAQ:ODD) last issued its earnings results on Wednesday, February 25th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $152.73 million for the quarter, compared to analyst estimates of $151.11 million. ODDITY Tech had a net margin of 13.68% and a return on equity of 29.84%. The company’s quarterly revenue was up 23.8% on a year-over-year basis. During the same quarter last year, the business posted $0.20 earnings per share. On average, analysts predict that ODDITY Tech Ltd. will post 1.62 EPS for the current fiscal year.

Institutional Trading of ODDITY Tech

A number of hedge funds have recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of ODDITY Tech by 5.0% during the third quarter. Blue Trust Inc. now owns 5,988 shares of the company’s stock worth $373,000 after purchasing an additional 285 shares during the last quarter. TD Asset Management Inc boosted its position in ODDITY Tech by 7.7% during the 3rd quarter. TD Asset Management Inc now owns 6,629 shares of the company’s stock worth $413,000 after buying an additional 476 shares during the period. Wexford Capital LP bought a new stake in ODDITY Tech during the 3rd quarter worth approximately $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in ODDITY Tech by 134.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company’s stock worth $69,000 after acquiring an additional 651 shares during the last quarter. Finally, USS Investment Management Ltd increased its position in ODDITY Tech by 5.3% in the 4th quarter. USS Investment Management Ltd now owns 13,753 shares of the company’s stock valued at $552,000 after acquiring an additional 695 shares during the period. 35.88% of the stock is owned by institutional investors and hedge funds.

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.