Oddity Tech (NASDAQ:ODD) Shares Gap Up to $31.26

Oddity Tech Ltd. (NASDAQ:ODD) gapped up prior to trading on Wednesday . The stock had previously closed at $31.26, but opened at $35.44. Oddity Tech shares last traded at $36.22, with a volume of 923,281 shares traded.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. JMP Securities reissued a “market outperform” rating and set a $66.00 price objective on shares of Oddity Tech in a report on Thursday, March 7th. Morgan Stanley increased their price objective on shares of Oddity Tech from $35.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. Barclays reduced their price objective on shares of Oddity Tech from $46.00 to $44.00 and set an “equal weight” rating for the company in a report on Friday, April 12th. Evercore ISI assumed coverage on shares of Oddity Tech in a research report on Thursday, April 4th. They issued an “outperform” rating and a $57.00 price target for the company. Finally, Bank of America raised their price target on shares of Oddity Tech from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.63.

Oddity Tech Stock Up 15.2 %

The company has a market cap of $2.05 billion and a P/E ratio of 34.40. The business has a 50-day moving average price of $39.04 and a two-hundred day moving average price of $38.89.

Oddity Tech (NASDAQ:ODD) last issued its earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $97.25 million for the quarter, compared to analyst estimates of $86.38 million. Oddity Tech had a net margin of 11.51% and a return on equity of 26.22%. As a group, sell-side analysts expect that Oddity Tech Ltd. will post 1.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Oddity Tech

Several hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. acquired a new position in shares of Oddity Tech in the 3rd quarter valued at approximately $157,621,000. MSD Partners L.P. acquired a new position in shares of Oddity Tech in the third quarter valued at approximately $50,510,000. FMR LLC bought a new stake in shares of Oddity Tech during the third quarter worth $47,208,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Oddity Tech during the third quarter worth $22,503,000. Finally, Clearbridge Investments LLC bought a new stake in Oddity Tech in the 4th quarter valued at $27,056,000. 35.88% of the stock is currently 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.