ODDITY Tech (NASDAQ:ODD) Stock Price Down 7.5% – What’s Next?

ODDITY Tech Ltd. (NASDAQ:ODD)’s stock price traded down 7.5% on Monday . The stock traded as low as $15.99 and last traded at $16.5580. 175,453 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 1,918,535 shares. The stock had previously closed at $17.90.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of ODDITY Tech in a report on Tuesday, June 2nd. Barclays reduced 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 report on Wednesday, June 3rd. Morgan Stanley decreased their price target on shares of ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 3rd. Wall Street Zen lowered shares of ODDITY Tech from a “sell” rating to a “strong sell” rating in a report on Saturday, April 18th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of ODDITY Tech in a research report on Wednesday, June 3rd. Eight research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $25.39.

ODDITY Tech Stock Performance

The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.86 and a current ratio of 4.06. The business’s 50-day moving average is $13.22 and its 200-day moving average is $20.96. The company has a market capitalization of $1.01 billion, a PE ratio of 22.18 and a beta of 2.37.

ODDITY Tech (NASDAQ:ODD) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. The company had revenue of $197.94 million for the quarter, compared to the consensus estimate of $187.87 million. During the same period last year, the business earned $0.69 EPS. The firm’s quarterly revenue was down 26.2% on a year-over-year basis. On average, research analysts anticipate that ODDITY Tech Ltd. will post -0.55 earnings per share for the current year.

Insider Activity at ODDITY Tech

In related news, CFO Mann Lindsay Drucker sold 109,602 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $15.09, for a total transaction of $1,653,894.18. Following the completion of the sale, the chief financial officer owned 77,709 shares of the company’s stock, valued at $1,172,628.81. This trade represents a 58.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 128,805 shares of company stock worth $1,932,910 in the last 90 days.

Institutional Trading of ODDITY Tech

Institutional investors and hedge funds have recently modified their holdings of the business. Avidity Partners Management LP purchased a new position in shares of ODDITY Tech in the first quarter worth $937,000. Segall Bryant & Hamill LLC purchased a new stake in shares of ODDITY Tech during the first quarter valued at $488,000. Amundi boosted its position in shares of ODDITY Tech by 17.8% during the first quarter. Amundi now owns 434,945 shares of the company’s stock valued at $5,820,000 after buying an additional 65,647 shares during the last quarter. Empowered Funds LLC bought a new stake in ODDITY Tech in the 1st quarter worth about $1,275,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in ODDITY Tech in the 1st quarter worth about $405,000. Institutional investors own 35.88% of the company’s stock.

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.