ODDITY Tech (NASDAQ:ODD) Trading Up 7.6% – What’s Next?

ODDITY Tech Ltd. (NASDAQ:ODD) traded up 7.6% during mid-day trading on Monday . The stock traded as high as $19.31 and last traded at $19.4950. 106,351 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 1,697,241 shares. The stock had previously closed at $18.11.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. began coverage on shares of ODDITY Tech in a research note on Monday. They set a “neutral” rating and a $18.00 price objective for the company. Truist Financial upped their target price on ODDITY Tech from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Thursday, September 10th. Citigroup reaffirmed a “market perform” rating on shares of ODDITY Tech in a research note on Thursday, September 10th. Bank of America reiterated an “underperform” rating on shares of ODDITY Tech in a report on Thursday, September 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ODDITY Tech in a report on Tuesday, September 8th. Ten investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $22.15.

ODDITY Tech Trading Up 2.7%

The business has a 50 day simple moving average of $15.15 and a 200-day simple moving average of $14.28. The company has a current ratio of 3.45, a quick ratio of 2.11 and a debt-to-equity ratio of 2.21. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 78.25 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 EPS 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 the consensus estimate of $178.23 million. ODDITY Tech had a net margin of 2.23% and a return on equity of 2.58%. The company’s quarterly revenue was down 24.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 EPS. On average, equities analysts predict that ODDITY Tech Ltd. will post -0.15 earnings per share for the current year.

Insider Transactions at ODDITY Tech

In related news, CFO Mann Drucker sold 7,717 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 116,135 shares of the company’s stock, valued at approximately $1,752,477.15. This represents a 6.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 172,454 shares of company stock valued at $2,592,610 in the last ninety days.

Institutional Trading of ODDITY Tech

Institutional investors have recently made changes to their positions in the stock. State Street Corp grew its holdings in shares of ODDITY Tech by 123.5% during the 2nd quarter. State Street Corp now owns 836,446 shares of the company’s stock worth $12,655,000 after purchasing an additional 462,137 shares during the period. K5 Global Advisor LLC purchased a new position in ODDITY Tech in the second quarter valued at approximately $375,000. Sigma Planning Corp raised its holdings in ODDITY Tech by 37.7% in the second quarter. Sigma Planning Corp now owns 14,510 shares of the company’s stock valued at $220,000 after buying an additional 3,975 shares during the period. Public Employees Retirement System of Ohio acquired a new position in ODDITY Tech during the second quarter valued at approximately $300,000. Finally, Avidity Partners Management LP acquired a new position in ODDITY Tech during the first quarter valued at approximately $937,000. 35.88% of the stock is owned by hedge funds and other institutional investors.

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.