ODDITY Tech (NASDAQ:ODD) Downgraded by Wall Street Zen to "Strong Sell"

Key Points

• Wall Street Zen downgraded ODDITY Tech to “Strong Sell”, while the broader analyst consensus remains “Reduce,” with 10 Hold ratings and four Sell ratings and an average price target of $22.15.
• ODD shares were trading at $21.11, up 8.0%, with a market capitalization of approximately $1.22 billion; the stock has ranged from $9.25 to $52.24 over the past year.
• The company beat quarterly earnings and revenue estimates, reporting $0.20 in EPS and $180.52 million in revenue, but revenue fell 24.9% year over year and analysts expect a full-year loss of $0.25 per share.

ODDITY Tech (NASDAQ:ODD - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

ODD has been the topic of a number of other research reports. 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 note on Wednesday, September 9th. Zacks Research raised ODDITY Tech from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of ODDITY Tech in a report on Tuesday, September 8th. Truist Financial lifted their target price on ODDITY Tech from $16.00 to $18.00 and gave the stock a "hold" rating in a report on Thursday, September 10th. Finally, JPMorgan Chase & Co. assumed coverage on shares of ODDITY Tech in a research report on Monday, September 21st. They issued a "neutral" rating and a $18.00 price target on the stock. Ten 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.com, the stock currently has an average rating of "Reduce" and a consensus target price of $22.15.

ODDITY Tech Trading Up 8.0%

ODDITY Tech stock opened at $21.11 on Friday. ODDITY Tech has a 12-month low of $9.25 and a 12-month high of $52.24. The company has a debt-to-equity ratio of 2.21, a current ratio of 3.45 and a quick ratio of 2.11. The stock has a market capitalization of $1.22 billion, a PE ratio of 87.96 and a beta of 2.24. The firm has a 50 day simple moving average of $15.92 and a 200-day simple moving average of $14.75.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last announced its 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 firm had revenue of $180.52 million for the quarter, compared to analysts' expectations of $178.23 million. ODDITY Tech had a return on equity of 2.58% and a net margin of 2.23%. The firm's quarterly revenue was down 24.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.92 earnings per share. As a group, equities research analysts expect that ODDITY Tech will post -0.25 EPS for the current fiscal year.

Insider Activity

In related news, CFO Mann Drucker sold 7,717 shares of the 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 transaction, the chief financial officer owned 116,135 shares in the company, valued at approximately $1,752,477.15. This represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 62,852 shares of company stock worth $938,716.

Institutional Trading of ODDITY Tech

Institutional investors have recently added to or reduced their stakes in the business. Granahan Investment Management LLC boosted 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 worth $61,202,000 after acquiring an additional 16,747 shares in the last quarter. State Street Corp increased 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 valued at $12,655,000 after acquiring an additional 462,137 shares during the last quarter. Ashford Capital Management Inc. raised its stake in shares of ODDITY Tech by 25.0% in the 4th quarter. Ashford Capital Management Inc. now owns 685,972 shares of the company's stock valued at $27,562,000 after acquiring an additional 137,380 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd raised its stake 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 acquiring an additional 310,000 shares in the last quarter. Finally, Altshuler Shaham Ltd lifted its holdings in ODDITY Tech by 364.7% in the 4th quarter. Altshuler Shaham Ltd now owns 500,714 shares of the company's stock worth $20,119,000 after purchasing an additional 392,967 shares during the last quarter. 35.88% of the stock is currently owned by institutional investors and hedge funds.

ODDITY Tech Company Profile

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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