ODDITY Tech Ltd. (NASDAQ:ODD) Receives Consensus Rating of “Reduce” from Analysts

ODDITY Tech Ltd. (NASDAQ:ODD) has earned a consensus rating of “Reduce” from the thirteen brokerages that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $25.3864.

ODD has been the topic of several recent research reports. Zacks Research cut ODDITY Tech from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Needham & Company LLC restated a “hold” rating on shares of ODDITY Tech in a report on Tuesday, June 2nd. Truist Financial lowered their price target on shares of ODDITY Tech from $18.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, June 3rd. Barclays reduced their price objective on ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, June 3rd. Finally, Morgan Stanley dropped their target price on shares of ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 3rd.

Insider Activity at ODDITY Tech

In other news, CFO Mann Lindsay Drucker sold 109,602 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $15.09, for a total value of $1,653,894.18. Following the completion of the transaction, the chief financial officer owned 77,709 shares of the company’s stock, valued at approximately $1,172,628.81. This trade represents a 58.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Institutional Investors Weigh In On ODDITY Tech

Several institutional investors have recently modified their holdings of the company. Wexford Capital LP purchased a new position in ODDITY Tech in the third quarter valued at $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 buying an additional 651 shares during the last quarter. USS Investment Management Ltd lifted its holdings in ODDITY Tech by 5.3% during the 4th quarter. USS Investment Management Ltd now owns 13,753 shares of the company’s stock worth $552,000 after buying an additional 695 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of ODDITY Tech by 2.0% during the 4th quarter. California State Teachers Retirement System now owns 43,532 shares of the company’s stock worth $1,749,000 after acquiring an additional 870 shares in the last quarter. Finally, Entropy Technologies LP boosted its position in shares of ODDITY Tech by 10.0% during the 3rd quarter. Entropy Technologies LP now owns 9,900 shares of the company’s stock worth $617,000 after acquiring an additional 900 shares in the last quarter. 35.88% of the stock is owned by hedge funds and other institutional investors.

ODDITY Tech Stock Performance

Shares of ODD opened at $14.97 on Friday. ODDITY Tech has a 52-week low of $9.25 and a 52-week high of $75.45. The stock has a market capitalization of $861.97 million, a price-to-earnings ratio of 18.95 and a beta of 2.37. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.86 and a current ratio of 4.06. The stock’s 50-day simple moving average is $14.03 and its 200 day simple moving average is $18.22.

ODDITY Tech (NASDAQ:ODD) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The company had revenue of $197.94 million during the quarter, compared to the consensus estimate of $187.87 million. During the same period in the previous year, the company earned $0.69 EPS. ODDITY Tech’s quarterly revenue was down 26.2% on a year-over-year basis. Research analysts forecast that ODDITY Tech will post -0.55 EPS for the current fiscal year.

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. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.