ODDITY Tech (NASDAQ:ODD) Shares Down 5.5% – What’s Next?

ODDITY Tech Ltd. (NASDAQ:ODD)’s share price was down 5.5% on Friday . The company traded as low as $18.33 and last traded at $18.2130. 115,275 shares changed hands during trading, a decline of 93% from the average session volume of 1,685,702 shares. The stock had previously closed at $19.27.

Wall Street Analysts Forecast Growth

ODD has been the subject of several research analyst reports. Morgan Stanley raised their price target on ODDITY Tech from $10.00 to $16.50 and gave the company an “equal weight” rating in a report on Thursday, September 10th. Needham & Company LLC reiterated a “hold” rating on shares of ODDITY Tech in a research report on Tuesday, September 8th. Wall Street Zen upgraded shares of ODDITY Tech from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 12th. Truist Financial boosted their price objective on ODDITY Tech from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, September 10th. Finally, Citigroup reiterated a “market perform” rating on shares of ODDITY Tech in a report on Thursday, September 10th. Ten investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $27.23.

ODDITY Tech Trading Down 2.8%

The firm has a market cap of $1.08 billion, a PE ratio of 78.06 and a beta of 2.38. The company has a 50-day simple moving average of $15.05 and a 200 day simple moving average of $14.15. The company has a current ratio of 3.45, a quick ratio of 2.11 and a debt-to-equity ratio of 2.21.

ODDITY Tech (NASDAQ:ODD) last issued its quarterly earnings results on Wednesday, September 9th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.12 by $0.08. The company had revenue of $180.52 million during the quarter, compared to analyst estimates of $178.23 million. ODDITY Tech had a net margin of 2.23% and a return on equity of 2.58%. The firm’s revenue was down 24.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 EPS. As a group, sell-side analysts forecast that ODDITY Tech Ltd. will post -0.15 earnings per share for the current fiscal year.

Insider Buying and Selling at ODDITY Tech

In other ODDITY Tech news, CFO Mann Drucker sold 7,717 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $15.09, for a total value of $116,449.53. Following the sale, the chief financial officer owned 116,135 shares of the company’s stock, valued at $1,752,477.15. The trade was a 6.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 172,454 shares of company stock worth $2,592,610 in the last ninety days.

Hedge Funds Weigh In On ODDITY Tech

Several hedge funds have recently bought and sold shares of ODD. Altshuler Shaham Ltd lifted its stake in ODDITY Tech by 364.7% in the fourth quarter. Altshuler Shaham Ltd now owns 500,714 shares of the company’s stock worth $20,119,000 after acquiring an additional 392,967 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of ODDITY Tech by 110.6% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 590,300 shares of the company’s stock valued at $23,718,000 after purchasing an additional 310,000 shares in the last quarter. Rice Hall James & Associates LLC acquired a new stake in shares of ODDITY Tech in the 1st quarter valued at $3,533,000. Halter Ferguson Financial Inc. purchased a new stake in shares of ODDITY Tech during the 1st quarter worth $2,789,000. Finally, Ashford Capital Management Inc. grew its stake in shares of ODDITY Tech by 25.0% during the fourth quarter. Ashford Capital Management Inc. now owns 685,972 shares of the company’s stock worth $27,562,000 after purchasing an additional 137,380 shares in the last quarter. Institutional investors and hedge funds own 35.88% of the company’s stock.

ODDITY Tech Company Profile

ODDITY Tech Ltd. is a technology and consumer products company focused on beauty and wellness. The company combines data science, artificial intelligence and digital commerce to develop, market and sell products directly to consumers, with an emphasis on personalized shopping experiences and digitally native brands.

ODDITY’s portfolio includes IL MAKIAGE, a digitally focused makeup brand known for personalized product recommendations, and SpoiledChild, a beauty and hair-care brand. Its offerings include cosmetics, skin-care, hair-care and related beauty products sold primarily through online channels.

Founded in 2018 by Oran Holtzman and Lihi Pinto Fryman, ODDITY is headquartered in New York and operates technology and research capabilities in Tel Aviv.