ODDITY Tech (NASDAQ:ODD) Shares Up 8% – Here’s Why

ODDITY Tech Ltd. (NASDAQ:ODD) rose 8% on Friday . The company traded as high as $14.18 and last traded at $14.1880. 349,491 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 1,889,429 shares. The stock had previously closed at $13.14.

Wall Street Analyst Weigh In

ODD has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of ODDITY Tech in a research note on Tuesday, June 2nd. Morgan Stanley decreased their price target on shares of ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 3rd. Jefferies Financial Group reiterated a “hold” rating and set a $10.25 price objective on shares of ODDITY Tech in a research report on Tuesday, June 2nd. Bank of America lowered ODDITY Tech from a “buy” rating to an “underperform” rating and set a $10.00 price objective for the company. in a research note on Thursday, February 26th. Finally, Truist Financial decreased their target price on ODDITY Tech from $18.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, June 3rd. Nine equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $25.39.

ODDITY Tech Stock Performance

The firm’s 50-day moving average price is $13.04 and its two-hundred day moving average price is $22.47. The firm has a market capitalization of $832.15 million, a PE ratio of 18.34 and a beta of 2.47. The company has a quick ratio of 2.86, a current ratio of 4.06 and a debt-to-equity ratio of 1.96.

ODDITY Tech (NASDAQ:ODD) last issued 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). ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. The firm had revenue of $197.94 million during the quarter, compared to analysts’ expectations of $187.87 million. During the same quarter last year, the company posted $0.69 EPS. The firm’s revenue was down 26.2% compared to the same quarter last year. As a group, research analysts predict that ODDITY Tech Ltd. will post -0.46 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Mann Lindsay Drucker sold 9,603 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $13.44, for a total value of $129,064.32. Following the completion of the sale, the chief financial officer owned 77,709 shares of the company’s stock, valued at $1,044,408.96. This trade represents a 11.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 28,807 shares of company stock valued at $402,428 in the last ninety days.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Citigroup Inc. boosted its position in ODDITY Tech by 220.4% during the 3rd quarter. Citigroup Inc. now owns 228,786 shares of the company’s stock worth $14,253,000 after acquiring an additional 157,374 shares during the period. Bamco Inc. NY lifted its position 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 in the last quarter. Baillie Gifford & Co. lifted its position 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 in the last quarter. Granahan Investment Management LLC boosted its holdings in shares of ODDITY Tech by 11.1% during 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 period. Finally, Peregrine Capital Management LLC boosted its holdings in shares of ODDITY Tech by 31.2% during the fourth quarter. Peregrine Capital Management LLC now owns 190,485 shares of the company’s stock worth $7,654,000 after purchasing an additional 45,253 shares during the period. 35.88% of the stock is owned by institutional investors and hedge funds.

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.