ODDITY Tech (NASDAQ:ODD) Issues Earnings Results

ODDITY Tech (NASDAQ:ODD) issued its quarterly earnings data on Wednesday. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.10), Zacks reports. ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.

ODDITY Tech Stock Performance

Shares of NASDAQ:ODD opened at $13.02 on Wednesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 4.06 and a quick ratio of 2.86. ODDITY Tech has a 1 year low of $9.25 and a 1 year high of $64.23. The firm has a market capitalization of $749.63 million, a PE ratio of 16.48 and a beta of 2.38. The business’s 50 day moving average price is $14.98 and its 200-day moving average price is $14.41.

Insider Buying and Selling

In other ODDITY Tech news, CFO Mann Drucker sold 109,602 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $15.09, for a total value of $1,653,894.18. Following the transaction, the chief financial officer owned 77,709 shares in the company, valued at approximately $1,172,628.81. This trade represents a 58.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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. Over the last three months, insiders sold 172,454 shares of company stock valued at $2,592,610.

Institutional Investors Weigh In On ODDITY Tech

A number of large investors have recently modified their holdings of ODD. TD Asset Management Inc grew its holdings in shares of ODDITY Tech by 32.7% during the 4th quarter. TD Asset Management Inc now owns 8,799 shares of the company’s stock worth $354,000 after purchasing an additional 2,170 shares during the period. Mariner LLC lifted its position in ODDITY Tech by 97.0% in the third quarter. Mariner LLC now owns 6,864 shares of the company’s stock valued at $428,000 after buying an additional 3,380 shares during the last quarter. Vident Advisory LLC acquired a new position in ODDITY Tech in the second quarter valued at about $366,000. Shellback Capital LP purchased a new position in ODDITY Tech during the second quarter worth about $377,000. Finally, Holocene Advisors LP acquired a new stake in shares of ODDITY Tech during the second quarter valued at about $313,000. Hedge funds and other institutional investors own 35.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. The Goldman Sachs Group lowered ODDITY Tech from a “hold” rating to a “sell” rating and cut their price target for the company from $16.00 to $8.00 in a research note on Wednesday, June 3rd. Truist Financial increased their target price on ODDITY Tech from $12.00 to $16.00 and gave the company a “hold” rating in a research report on Tuesday, September 1st. Morgan Stanley cut their price target on shares of ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating for the company in a report on Wednesday, June 3rd. Needham & Company LLC restated a “hold” rating on shares of ODDITY Tech in a research report on Tuesday. Finally, Zacks Research upgraded shares of ODDITY Tech from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Nine investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $25.75.

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.