ODDITY Tech Ltd. (NASDAQ:ODD) Receives Average Rating of “Reduce” from Brokerages

ODDITY Tech Ltd. (NASDAQ:ODD) has been assigned a consensus rating of “Reduce” from the thirteen brokerages that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $25.3864.

ODD has been the topic of several research reports. Wall Street Zen downgraded shares of ODDITY Tech from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 18th. Bank of America downgraded shares of ODDITY Tech from a “buy” rating to an “underperform” rating and set a $10.00 price target on the stock. in a research note on Thursday, February 26th. KeyCorp reissued a “sector weight” rating on shares of ODDITY Tech in a research note on Wednesday, June 3rd. Weiss Ratings downgraded shares of ODDITY Tech from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, March 3rd. Finally, Barclays decreased their price target on shares of ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 3rd.

Insider Activity

In other news, CFO Mann Lindsay Drucker sold 9,604 shares of the firm’s stock in a transaction that occurred on 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 owned 49,054 shares in the company, valued at approximately $630,343.90. This trade represents a 16.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 28,807 shares of company stock valued at $402,428 in the last quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Citigroup Inc. grew its holdings in shares of ODDITY Tech by 220.4% in the third quarter. Citigroup Inc. now owns 228,786 shares of the company’s stock worth $14,253,000 after purchasing an additional 157,374 shares during the last quarter. Bamco Inc. NY grew its holdings in shares of ODDITY Tech by 11.3% in the third quarter. Bamco Inc. NY now owns 1,376,781 shares of the company’s stock worth $85,773,000 after purchasing an additional 139,348 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of ODDITY Tech by 17.8% in the fourth quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company’s stock worth $286,188,000 after purchasing an additional 1,076,921 shares during the last quarter. Granahan Investment Management LLC grew its holdings in shares of ODDITY Tech by 11.1% in the third quarter. Granahan Investment Management LLC now owns 1,506,457 shares of the company’s stock worth $93,852,000 after purchasing an additional 151,110 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of ODDITY Tech in the third quarter worth approximately $1,532,000. Institutional investors own 35.88% of the company’s stock.

ODDITY Tech Trading Down 0.1%

ODD stock opened at $10.96 on Friday. The company has a market capitalization of $631.08 million, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.43 and a beta of 2.47. ODDITY Tech has a one year low of $9.25 and a one year high of $77.83. The company’s 50 day moving average price is $13.46 and its two-hundred day moving average price is $24.65. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.86 and a current ratio of 4.06.

ODDITY Tech (NASDAQ:ODD) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The business had revenue of $197.94 million for the quarter, compared to analysts’ expectations of $187.87 million. ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The company’s revenue was down 26.2% compared to the same quarter last year. During the same period last year, the business posted $0.69 earnings per share. As a group, analysts predict that ODDITY Tech will post -0.46 earnings per share for the current fiscal year.

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.