Oddity Tech (NASDAQ:ODD) Updates Q2 2024 Earnings Guidance

Oddity Tech (NASDAQ:ODD) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.610-0.640 for the period, compared to the consensus earnings per share estimate of 0.560. The company issued revenue guidance of $185.0 million-$189.0 million, compared to the consensus revenue estimate of $186.5 million. Oddity Tech also updated its FY 2024 guidance to 1.570-1.620 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ODD shares. Barclays decreased their target price on shares of Oddity Tech from $46.00 to $44.00 and set an equal weight rating on the stock in a research note on Friday, April 12th. Bank of America raised their target price 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. Evercore ISI initiated coverage on shares of Oddity Tech in a research report on Thursday, April 4th. They set an outperform rating and a $57.00 price objective on the stock. JMP Securities reiterated a market outperform rating and set a $66.00 price objective on shares of Oddity Tech in a research report on Thursday, March 7th. Finally, Morgan Stanley lifted 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 report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $53.63.

Oddity Tech Stock Performance

ODD stock traded down $1.48 on Friday, hitting $36.53. 476,850 shares of the company’s stock were exchanged, compared to its average volume of 870,689. The firm has a 50 day moving average price of $38.87 and a two-hundred day moving average price of $38.87. The stock has a market cap of $2.08 billion and a P/E ratio of 31.68. Oddity Tech has a 12-month low of $24.12 and a 12-month high of $56.00.

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

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.