Morgan Stanley Issues Positive Forecast for ODDITY Tech (NASDAQ:ODD) Stock Price

Key Points

• Morgan Stanley raised its ODDITY Tech price target to $18.50 from $16.50 while maintaining an “equal weight” rating, implying 17.85% downside from the reported $22.52 share price.
• Analyst sentiment remains cautious: ODDITY has 11 Hold and three Sell ratings, with MarketBeat assigning an overall “Reduce” rating and a consensus target price of $22.35.
• The company exceeded quarterly earnings expectations, reporting $0.20 EPS versus the $0.12 consensus and $180.5 million in revenue, though revenue declined 24.9% year over year and insiders sold approximately $938,716 of stock over the past three months.

ODDITY Tech (NASDAQ:ODD - Get Free Report) had its price target raised by equities researchers at Morgan Stanley from $16.50 to $18.50 in a report issued on Thursday, Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price target would suggest a potential downside of 17.85% from the stock's current price.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. began coverage on ODDITY Tech in a report on Monday, September 21st. They issued a "neutral" rating and a $18.00 target price for the company. Zacks Research upgraded ODDITY Tech from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Weiss Ratings raised ODDITY Tech from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, October 9th. Needham & Company LLC reiterated a "hold" rating on shares of ODDITY Tech in a research note on Tuesday, September 8th. Finally, Jefferies Financial Group boosted their price objective on ODDITY Tech from $16.00 to $18.00 and gave the stock a "hold" rating in a research report on Wednesday, September 9th. Eleven research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, ODDITY Tech currently has an average rating of "Reduce" and a consensus target price of $22.35.

ODDITY Tech Stock Up 4.1%

Shares of ODD traded up $0.89 during mid-day trading on Thursday, hitting $22.52. 402,746 shares of the company's stock were exchanged, compared to its average volume of 1,616,580. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 94.37 and a beta of 2.24. ODDITY Tech has a fifty-two week low of $9.25 and a fifty-two week high of $52.00. The company has a debt-to-equity ratio of 2.21, a quick ratio of 2.11 and a current ratio of 3.45. The stock's 50-day moving average is $16.31 and its 200-day moving average is $14.92.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last announced its earnings results on Wednesday, September 9th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.08. ODDITY Tech had a net margin of 2.23% and a return on equity of 2.58%. The firm had revenue of $180.52 million for the quarter, compared to the consensus estimate of $178.23 million. During the same period in the prior year, the firm earned $0.92 EPS. The firm's revenue for the quarter was down 24.9% on a year-over-year basis. On average, sell-side analysts anticipate that ODDITY Tech will post -0.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 stock was sold at an average price of $15.09, for a total value of $116,449.53. Following the completion of the transaction, the chief financial officer directly owned 116,135 shares of the company's stock, valued at $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 available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 62,852 shares of company stock worth $938,716 in the last three months.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ODD. USS Investment Management Ltd grew its stake in ODDITY Tech by 6.4% during the 1st quarter. USS Investment Management Ltd now owns 14,633 shares of the company's stock worth $196,000 after buying an additional 880 shares during the last quarter. Blue Trust Inc. increased its position in ODDITY Tech by 14.9% during the first quarter. Blue Trust Inc. now owns 11,359 shares of the company's stock worth $152,000 after buying an additional 1,470 shares during the period. Sigma Planning Corp lifted its stake in ODDITY Tech by 52.0% in the first quarter. Sigma Planning Corp now owns 10,535 shares of the company's stock valued at $141,000 after buying an additional 3,605 shares during the last quarter. Juncture Wealth Strategies LLC lifted its stake in ODDITY Tech by 17.8% in the third quarter. Juncture Wealth Strategies LLC now owns 27,119 shares of the company's stock valued at $506,000 after buying an additional 4,097 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of ODDITY Tech in the first quarter valued at approximately $104,000. Institutional investors and hedge funds own 35.88% of the company's stock.

About ODDITY Tech

ODDITY Tech Ltd. is a technology-driven beauty and wellness company that develops and markets consumer brands through digital, direct-to-consumer channels. The company uses data science, artificial intelligence and technology-enabled personalization to help consumers discover products and make purchasing decisions online.

ODDITY's portfolio includes IL MAKIAGE, a digitally native makeup brand known for personalized product recommendations, and SpoiledChild, a beauty and hair-care brand focused on personalized routines and treatments.

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