ODDITY Tech (NASDAQ:ODD) Stock Price Expected to Rise, Barclays Analyst Says

ODDITY Tech (NASDAQ:ODD) had its price target lifted by stock analysts at Barclays from $12.00 to $15.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s price target indicates a potential downside of 14.04% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. Citigroup reaffirmed a “market perform” rating on shares of ODDITY Tech in a research note on Thursday, September 10th. JPMorgan Chase & Co. assumed coverage on shares of ODDITY Tech in a research note on Monday, September 21st. They issued a “neutral” rating and a $18.00 price objective on the stock. Wall Street Zen upgraded ODDITY Tech from a “strong sell” rating to a “sell” rating in a report on Sunday, October 18th. Zacks Research raised ODDITY Tech from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ODDITY Tech in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $23.45.

ODDITY Tech Trading Down 12.3%

Shares of ODDITY Tech stock traded down $2.45 on Thursday, hitting $17.45. The stock had a trading volume of 1,423,802 shares, compared to its average volume of 1,545,648. The stock has a 50 day moving average of $19.59 and a 200 day moving average of $17.14. The firm has a market capitalization of $1.00 billion, a P/E ratio of 72.35 and a beta of 2.14. ODDITY Tech has a twelve month low of $9.25 and a twelve month high of $46.45. The company has a debt-to-equity ratio of 2.21, a quick ratio of 2.11 and a current ratio of 3.45.

ODDITY Tech (NASDAQ:ODD) last posted its earnings results on Wednesday, November 11th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.30 by $0.07. ODDITY Tech had a net margin of 2.23% and a return on equity of 2.58%. The business had revenue of $144.98 million for the quarter, compared to the consensus estimate of $140.53 million. During the same period last year, the company earned $0.28 EPS. Sell-side analysts expect that ODDITY Tech will post -0.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ODDITY Tech news, CFO Mann Drucker sold 7,717 shares of ODDITY Tech stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $15.09, for a total value of $116,449.53. Following the completion of the sale, the chief financial officer directly owned 116,135 shares in the company, valued at approximately $1,752,477.15. The trade was a 6.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 51,379 shares of company stock worth $765,474 over the last ninety days.

Hedge Funds Weigh In On ODDITY Tech

A number of institutional investors and hedge funds have recently modified their holdings of the business. Pinnacle Wealth Planning Services Inc. grew its position in shares of ODDITY Tech by 38.3% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 4,125 shares of the company’s stock worth $77,000 after buying an additional 1,142 shares during the period. Signaturefd LLC lifted its position in shares of ODDITY Tech by 72.0% during the 3rd quarter. Signaturefd LLC now owns 9,814 shares of the company’s stock valued at $183,000 after acquiring an additional 4,109 shares during the period. Sigma Planning Corp lifted its position in shares of ODDITY Tech by 52.0% during the 1st quarter. Sigma Planning Corp now owns 10,535 shares of the company’s stock valued at $141,000 after acquiring an additional 3,605 shares during the period. Ieq Capital LLC bought a new position in ODDITY Tech during the third quarter worth $325,000. Finally, Public Employees Retirement System of Ohio bought a new position in ODDITY Tech during the second quarter worth $300,000. 35.88% of the stock is currently owned by institutional investors.

Key Headlines Impacting ODDITY Tech

Here are a few of the latest headlines about ODD:

• Positive Sentiment: Third-quarter EPS was $0.37, above the $0.30 consensus, while revenue of about $145 million topped estimates of roughly $140.5 million. The company also reported $22 million in adjusted EBITDA. ODDITY Tech Q3 results and outlook
• Positive Sentiment: ODDITY raised its full-year net revenue and adjusted EBITDA outlook; its $660 million revenue guidance is modestly above the roughly $656.6 million consensus. Some analysts also lifted their forecasts after the results. Analysts boost forecasts after results
• Negative Sentiment: Despite beating estimates, third-quarter revenue declined about 2% year over year. The earnings call was characterized as showing an uneven recovery, and Jefferies lowered its price target to $20, reinforcing concerns about the pace of growth. Earnings call highlights

ODDITY Tech Company Profile

ODDITY Tech Ltd. is a technology-driven consumer company that develops and operates digital-first beauty and wellness brands. Its portfolio includes IL MAKIAGE, which offers makeup and skincare products, and SpoiledChild, which focuses on beauty and wellness products. The company uses data analytics, artificial intelligence and other technology to support product development, personalized recommendations and online shopping. Its brands primarily sell directly to consumers through e-commerce platforms.