ODDITY Tech (NASDAQ:ODD) Stock Price Down 10.4% – Here’s What Happened

Shares of ODDITY Tech Ltd. (NASDAQ:ODD) traded down 10.4% on Tuesday . The company traded as low as $12.63 and last traded at $12.64. 1,189,835 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 1,915,455 shares. The stock had previously closed at $14.10.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Needham & Company LLC lowered ODDITY Tech from a “buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Weiss Ratings lowered ODDITY Tech from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, March 3rd. The Goldman Sachs Group lowered their price objective on shares of ODDITY Tech from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Friday, March 27th. Bank of America downgraded shares of ODDITY Tech from a “buy” rating to an “underperform” rating and set a $10.00 price target for the company. in a report on Thursday, February 26th. Finally, Citizens Jmp cut shares of ODDITY Tech from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, ODDITY Tech presently has an average rating of “Reduce” and a consensus target price of $31.36.

ODDITY Tech Stock Down 11.2%

The company has a quick ratio of 4.06, a current ratio of 5.24 and a debt-to-equity ratio of 1.47. The business has a 50-day simple moving average of $14.17 and a two-hundred day simple moving average of $29.54. The stock has a market capitalization of $721.07 million, a P/E ratio of 6.99, a PEG ratio of 1.93 and a beta of 2.58.

ODDITY Tech (NASDAQ:ODD) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. ODDITY Tech had a return on equity of 29.84% and a net margin of 13.68%.The company had revenue of $152.73 million during the quarter, compared to analysts’ expectations of $151.11 million. During the same period last year, the business earned $0.20 earnings per share. The business’s revenue was up 23.8% on a year-over-year basis. Equities research analysts forecast that ODDITY Tech Ltd. will post 0.64 earnings per share for the current fiscal year.

Insider Transactions at ODDITY Tech

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 9,604 shares of the business’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $12.85, for a total value of $123,411.40. Following the transaction, the chief financial officer directly owned 49,054 shares in the company, valued at $630,343.90. The trade was a 16.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Trading of ODDITY Tech

Several hedge funds have recently modified their holdings of the company. Baillie Gifford & Co. boosted its holdings in shares of ODDITY Tech by 17.8% in the 4th quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company’s stock worth $286,188,000 after acquiring an additional 1,076,921 shares in the last quarter. Morgan Stanley raised its position in ODDITY Tech by 13.9% in the 4th quarter. Morgan Stanley now owns 4,305,565 shares of the company’s stock valued at $172,998,000 after purchasing an additional 525,481 shares during the last quarter. Janus Henderson Group PLC boosted its stake in ODDITY Tech by 115.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,423,917 shares of the company’s stock worth $97,379,000 after purchasing an additional 1,296,551 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of ODDITY Tech by 1.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,738,125 shares of the company’s stock worth $108,285,000 after purchasing an additional 28,930 shares during the last quarter. Finally, Granahan Investment Management LLC increased its stake in shares of ODDITY Tech by 1.1% in the fourth quarter. Granahan Investment Management LLC now owns 1,523,204 shares of the company’s stock valued at $61,202,000 after buying an additional 16,747 shares in the last quarter. Institutional investors and hedge funds own 35.88% of the company’s stock.

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.