ODDITY Tech (NASDAQ:ODD) Price Target Raised to $16.00

ODDITY Tech (NASDAQ:ODD) had its target price raised by Truist Financial from $12.00 to $16.00 in a research note issued to investors on Tuesday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other analysts also recently issued reports on ODD. Morgan Stanley dropped their target price on shares of ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 3rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $10.25 price target on shares of ODDITY Tech in a research report on Tuesday, June 2nd. Barclays decreased their price objective on shares of ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, June 3rd. The Goldman Sachs Group lowered shares of ODDITY Tech from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $16.00 to $8.00 in a research report on Wednesday, June 3rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of ODDITY Tech in a research note on Tuesday, June 2nd. Nine equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $25.75.

ODDITY Tech Price Performance

ODD stock opened at $14.13 on Tuesday. The company has a market cap of $813.61 million, a PE ratio of 17.89 and a beta of 2.38. The company has a current ratio of 4.06, a quick ratio of 2.86 and a debt-to-equity ratio of 1.96. The stock has a 50-day moving average price of $15.06 and a two-hundred day moving average price of $14.74. ODDITY Tech has a 12-month low of $9.25 and a 12-month high of $64.23.

ODDITY Tech (NASDAQ:ODD) last released its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). The firm had revenue of $197.94 million during 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 business’s revenue for the quarter was down 26.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.69 earnings per share. As a group, research analysts predict that ODDITY Tech will post -0.55 EPS for the current year.

Insiders Place Their Bets

In other ODDITY Tech news, CFO Mann Drucker sold 109,602 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $15.09, for a total value 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 through 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. In the last three months, insiders sold 172,454 shares of company stock valued at $2,592,610.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in ODDITY Tech by 16.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,117 shares of the company’s stock valued at $3,293,000 after purchasing an additional 10,582 shares in the last quarter. Geode Capital Management LLC increased its stake in ODDITY Tech by 12.9% during the 2nd quarter. Geode Capital Management LLC now owns 75,063 shares of the company’s stock worth $5,660,000 after buying an additional 8,561 shares during the period. Legal & General Group Plc acquired a new position in ODDITY Tech in the 2nd quarter worth $71,000. American Century Companies Inc. lifted its holdings in ODDITY Tech by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 14,300 shares of the company’s stock worth $1,079,000 after buying an additional 2,105 shares in the last quarter. Finally, Invesco Ltd. purchased a new position in ODDITY Tech in the 2nd quarter valued at about $327,000. 35.88% of the stock is currently owned by hedge funds and other institutional investors.

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.