ODDITY Tech (NASDAQ:ODD) Given New $16.50 Price Target at Morgan Stanley

ODDITY Tech (NASDAQ:ODD) had its price target increased by stock analysts at Morgan Stanley from $10.00 to $16.50 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 2.03% from the stock’s current price.

Several other brokerages also recently weighed in on ODD. Bank of America restated an “underperform” rating on shares of ODDITY Tech in a report on Thursday. KeyCorp reiterated a “sector weight” rating on shares of ODDITY Tech in a research note on Wednesday, June 3rd. Citigroup reissued a “market perform” rating on shares of ODDITY Tech in a research report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of ODDITY Tech in a report on Tuesday. Finally, Jefferies Financial Group lifted their target price on shares of ODDITY Tech from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Wednesday. Ten equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ODDITY Tech currently has a consensus rating of “Reduce” and a consensus target price of $27.23.

ODDITY Tech Stock Down 1.9%

NASDAQ:ODD traded down $0.31 during mid-day trading on Thursday, hitting $16.17. 1,248,414 shares of the company’s stock were exchanged, compared to its average volume of 1,681,470. The company has a debt-to-equity ratio of 1.96, a current ratio of 4.06 and a quick ratio of 2.86. The business has a fifty day moving average price of $14.97 and a 200 day moving average price of $14.31. ODDITY Tech has a one year low of $9.25 and a one year high of $64.23. The company has a market cap of $931.13 million, a PE ratio of 20.59 and a beta of 2.38.

ODDITY Tech (NASDAQ:ODD) last posted its quarterly earnings data on Wednesday, September 9th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 15.38% and a net margin of 6.97%.The firm’s revenue for the quarter was down 24.9% on a year-over-year basis. During the same quarter last year, the company earned $0.92 EPS. Equities analysts predict that ODDITY Tech will post -0.55 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On ODDITY Tech

A number of institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley grew its holdings in shares of ODDITY Tech by 13.9% in the fourth quarter. Morgan Stanley now owns 4,305,565 shares of the company’s stock worth $172,998,000 after acquiring an additional 525,481 shares during the period. Janus Henderson Group PLC boosted its position in ODDITY Tech by 115.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,423,917 shares of the company’s stock worth $97,379,000 after purchasing an additional 1,296,551 shares during the last quarter. Granahan Investment Management LLC grew its stake in shares of ODDITY Tech by 1.1% during the 4th quarter. Granahan Investment Management LLC now owns 1,523,204 shares of the company’s stock valued at $61,202,000 after purchasing an additional 16,747 shares during the period. Ashford Capital Management Inc. increased its position in shares of ODDITY Tech by 25.0% during the 4th quarter. Ashford Capital Management Inc. now owns 685,972 shares of the company’s stock valued at $27,562,000 after purchasing an additional 137,380 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in shares of ODDITY Tech by 1,432.4% during the 2nd quarter. California State Teachers Retirement System now owns 664,752 shares of the company’s stock valued at $10,058,000 after purchasing an additional 621,371 shares during the last quarter. 35.88% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting ODDITY Tech

Here are the key news stories impacting ODDITY Tech this week:

• Positive Sentiment: ODDITY reported adjusted EPS of $0.20, above the $0.12 analyst consensus, while revenue of approximately $181 million also exceeded estimates near $178 million. ODDITY Tech Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: Management expects sequential improvement, with third-quarter revenue projected to decline only about 5% year over year and adjusted EBITDA forecast at $18 million-$20 million. Full-year revenue guidance of roughly $656 million was also above consensus. ODDITY Tech Reports Second Quarter Results
• Positive Sentiment: Growth in the SpoiledChild and METHODIQ brands, ongoing progress addressing IL MAKIAGE’s advertising-account issue, and approximately $163 million of year-to-date share repurchases provide potential support for the stock.
• Positive Sentiment: Truist and Jefferies both raised their price targets to $18, although each maintained a hold rating, suggesting modest upside but limited conviction. Truist Raises ODDITY Price Target
• Neutral Sentiment: Needham reaffirmed its hold rating, reinforcing a cautious analyst consensus despite the recent target increases. Needham Reaffirms Hold Rating
• Negative Sentiment: Second-quarter net revenue fell 25% to $181 million, while net income dropped to $13 million from $49 million and adjusted EBITDA declined to $13 million from $70 million. Adjusted EPS also fell from $0.92 to $0.20. ODDITY Tech Reveals Drop in Q2 Bottom Line
• Negative Sentiment: Barclays initiated or reiterated a sell rating, signaling concern that IL MAKIAGE’s technical advertising problems, falling margins, and weaker cash flow could persist. Barclays Gives ODDITY a Sell Rating

About ODDITY Tech

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.