ODDITY Tech (NASDAQ:ODD) Shares Gap Up – Time to Buy?

Shares of ODDITY Tech Ltd. (NASDAQ:ODD) gapped up before the market opened on Thursday . The stock had previously closed at $12.55, but opened at $13.62. ODDITY Tech shares last traded at $14.1180, with a volume of 1,109,218 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ODD shares. KeyCorp dropped their price objective 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. Truist Financial reaffirmed a “hold” rating and set a $18.00 target price (down from $80.00) on shares of ODDITY Tech in a report on Wednesday, February 25th. Weiss Ratings lowered shares of ODDITY Tech from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, March 3rd. Morgan Stanley lowered their price target on shares of ODDITY Tech from $61.00 to $49.00 and set an “equal weight” rating on the stock in a report on Friday, November 21st. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $16.00 price objective (down from $59.00) on shares of ODDITY Tech in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $31.73.

ODDITY Tech Trading Up 8.1%

The company has a debt-to-equity ratio of 1.47, a current ratio of 5.24 and a quick ratio of 4.06. The company has a market capitalization of $757.25 million, a price-to-earnings ratio of 7.54, a P/E/G ratio of 1.58 and a beta of 3.54. The business’s 50-day moving average price is $28.81 and its two-hundred day moving average price is $42.51.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ODD. Baillie Gifford & Co. raised 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 valued at $286,188,000 after purchasing an additional 1,076,921 shares in the last quarter. Morgan Stanley increased its holdings in ODDITY Tech by 13.9% in the 4th quarter. Morgan Stanley now owns 4,305,565 shares of the company’s stock valued at $172,998,000 after buying an additional 525,481 shares during the period. Janus Henderson Group PLC increased its holdings in ODDITY Tech by 115.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,423,917 shares of the company’s stock valued at $97,379,000 after buying an additional 1,296,551 shares during the period. Massachusetts Financial Services Co. MA raised its position 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 valued at $108,285,000 after buying an additional 28,930 shares in the last quarter. Finally, Granahan Investment Management LLC lifted its holdings in shares of ODDITY Tech by 1.1% during the 4th quarter. Granahan Investment Management LLC now owns 1,523,204 shares of the company’s stock worth $61,202,000 after acquiring an additional 16,747 shares during the period. 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.