ODDITY Tech (NASDAQ:ODD) Trading Up 9% – What’s Next?

Shares of ODDITY Tech Ltd. (NASDAQ:ODD) rose 9% on Tuesday . The company traded as high as $10.71 and last traded at $10.8240. Approximately 151,085 shares traded hands during trading, a decline of 92% from the average daily volume of 1,930,464 shares. The stock had previously closed at $9.93.

Analyst Ratings Changes

ODD has been the topic of a number of research reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $10.25 price target on shares of ODDITY Tech in a research note on Tuesday, June 2nd. Wall Street Zen downgraded ODDITY Tech from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 18th. Barclays dropped their price target on ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 3rd. The Goldman Sachs Group lowered shares of ODDITY Tech from a “hold” rating to a “sell” rating and dropped their price objective for the company from $16.00 to $8.00 in a research note on Wednesday, June 3rd. Finally, Zacks Research lowered shares of ODDITY Tech from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Nine analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $25.39.

ODDITY Tech Price Performance

The company has a current ratio of 4.06, a quick ratio of 2.86 and a debt-to-equity ratio of 1.96. The business has a fifty day simple moving average of $13.59 and a 200 day simple moving average of $25.23. The stock has a market capitalization of $614.67 million, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 1.28 and a beta of 2.48.

ODDITY Tech (NASDAQ:ODD) last issued its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). The company had revenue of $197.94 million for the quarter, compared to the consensus estimate of $187.87 million. ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The business’s revenue for the quarter was down 26.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 earnings per share. On average, analysts expect that ODDITY Tech Ltd. will post 0.64 earnings per share for the current year.

Insider Buying and Selling

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 9,603 shares of the business’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 transaction 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 approximately $1,044,408.96. The trade was a 11.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 28,807 shares of company stock worth $402,428.

Hedge Funds Weigh In On ODDITY Tech

Several institutional investors have recently modified their holdings of ODD. Janus Henderson Group PLC grew its holdings 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 acquiring an additional 1,296,551 shares in the last quarter. Baillie Gifford & Co. lifted its holdings 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 buying an additional 1,076,921 shares during the period. Morgan Stanley lifted its holdings in ODDITY Tech by 13.9% in the fourth 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. Wellington Management Group LLP purchased a new position in shares of ODDITY Tech during the third quarter valued at approximately $27,838,000. Finally, Altshuler Shaham Ltd lifted its holdings in shares of ODDITY Tech by 364.7% during the fourth quarter. Altshuler Shaham Ltd now owns 500,714 shares of the company’s stock valued at $20,119,000 after purchasing an additional 392,967 shares during the last quarter. 35.88% of the stock is owned by institutional investors.

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.