ODDITY Tech (NASDAQ:ODD) Releases Quarterly Earnings Results, Misses Estimates By $0.13 EPS

ODDITY Tech (NASDAQ:ODD) posted its quarterly earnings data on Tuesday. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.13), FiscalAI reports. The firm had revenue of $197.94 million for the quarter, compared to analyst estimates of $187.87 million. ODDITY Tech had a return on equity of 29.84% and a net margin of 13.68%.

ODDITY Tech Stock Performance

Shares of NASDAQ ODD opened at $13.98 on Tuesday. The stock has a 50 day moving average price of $13.96 and a 200 day moving average price of $26.24. ODDITY Tech has a 52 week low of $10.80 and a 52 week high of $79.18. The company has a debt-to-equity ratio of 1.47, a quick ratio of 4.06 and a current ratio of 5.24. The stock has a market capitalization of $804.90 million, a PE ratio of 7.77, a price-to-earnings-growth ratio of 1.77 and a beta of 2.58.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Citizens Jmp cut ODDITY Tech from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Zacks Research cut ODDITY Tech from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Weiss Ratings cut ODDITY Tech from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, March 3rd. Barclays reaffirmed an “underweight” rating and set a $13.00 price objective (down from $40.00) on shares of ODDITY Tech in a research report on Thursday, February 26th. Finally, Jefferies Financial Group cut ODDITY Tech from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $64.00 to $18.00 in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $31.36.

Insider Activity

In other news, CFO Mann Lindsay Drucker sold 9,603 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $13.44, for a total value of $129,064.32. Following the completion of the sale, the chief financial officer directly owned 77,709 shares of the company’s stock, valued at $1,044,408.96. This trade represents a 11.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 28,807 shares of company stock valued at $402,428 over the last ninety days.

Institutional Trading of ODDITY Tech

A number of hedge funds have recently made changes to their positions in the business. Morgan Stanley lifted its position in shares of ODDITY Tech by 13.9% in the fourth 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 last quarter. Janus Henderson Group PLC lifted its position in shares of ODDITY Tech by 115.0% in the fourth 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 last quarter. BNP Paribas Financial Markets lifted its position in shares of ODDITY Tech by 41.5% in the third quarter. BNP Paribas Financial Markets now owns 519,912 shares of the company’s stock valued at $32,391,000 after buying an additional 152,522 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of ODDITY Tech in the third quarter valued at approximately $27,838,000. Finally, Wells Fargo & Company MN lifted its position in shares of ODDITY Tech by 20.6% in the fourth quarter. Wells Fargo & Company MN now owns 435,246 shares of the company’s stock valued at $17,488,000 after buying an additional 74,294 shares during the last quarter. 35.88% of the stock is owned by institutional investors and hedge funds.

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.