ODDITY Tech (NASDAQ:ODD) Earns "Neutral" Rating from JPMorgan Chase & Co.

Key Points

• JPMorgan reaffirmed a “Neutral” rating on ODDITY Tech with an $18 price target, implying roughly 0.6% downside from the prior close.
• Analyst sentiment remains cautious: ODDITY has an average “Reduce” rating and a consensus price target of $27.41, based on 10 Hold and four Sell ratings.
• The company beat quarterly earnings and revenue estimates, reporting $0.20 EPS and $180.52 million in revenue, but revenue fell 24.9% year over year and analysts expect a full-year loss.

ODDITY Tech (NASDAQ:ODD - Get Free Report)'s stock had its "neutral" rating restated by investment analysts at JPMorgan Chase & Co. in a note issued to investors on Monday, Benzinga reports. They currently have a $18.00 price objective on the stock. JPMorgan Chase & Co.'s target price would indicate a potential downside of 0.61% from the company's previous close.

Several other research firms have also issued reports on ODD. Zacks Research raised ODDITY Tech from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Morgan Stanley raised their price target on shares of ODDITY Tech from $10.00 to $16.50 and gave the company an "equal weight" rating in a research report on Thursday, September 10th. Wall Street Zen upgraded shares of ODDITY Tech from a "strong sell" rating to a "sell" rating in a report on Saturday, September 12th. Truist Financial upped their price objective on ODDITY Tech from $16.00 to $18.00 and gave the company a "hold" rating in a research report on Thursday, September 10th. Finally, The Goldman Sachs Group lowered ODDITY Tech from a "hold" rating to a "sell" rating and reduced their target price for the stock from $16.00 to $8.00 in a report on Wednesday, June 3rd. Ten equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $27.41.

ODDITY Tech Price Performance

Shares of NASDAQ ODD opened at $18.11 on Monday. The company has a 50 day simple moving average of $15.07 and a two-hundred day simple moving average of $14.20. ODDITY Tech has a fifty-two week low of $9.25 and a fifty-two week high of $63.56. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 75.46 and a beta of 2.38. The company has a debt-to-equity ratio of 2.21, a quick ratio of 2.11 and a current ratio of 3.45.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last posted its quarterly 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. The company had revenue of $180.52 million for the quarter, compared to the consensus estimate 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 prior year, the business posted $0.92 EPS. Analysts expect that ODDITY Tech will post -0.15 EPS for the current fiscal year.

Insider Buying and Selling at ODDITY Tech

In other news, CFO Mann Drucker sold 109,602 shares of the firm's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $15.09, for a total value of $1,653,894.18. Following the transaction, the chief financial officer directly owned 77,709 shares in the company, valued at $1,172,628.81. This trade represents a 58.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 172,454 shares of company stock worth $2,592,610.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of ODDITY Tech during the 1st quarter valued at about $104,000. Leonteq Securities AG bought a new stake in ODDITY Tech during the fourth quarter valued at approximately $130,000. Sigma Planning Corp grew its position in ODDITY Tech by 52.0% during 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 period. Blue Trust Inc. increased its holdings in ODDITY Tech by 14.9% during the first quarter. Blue Trust Inc. now owns 11,359 shares of the company's stock valued at $152,000 after buying an additional 1,470 shares during the last quarter. Finally, USS Investment Management Ltd raised its position in ODDITY Tech by 6.4% in the first quarter. USS Investment Management Ltd now owns 14,633 shares of the company's stock worth $196,000 after acquiring an additional 880 shares during the period. Institutional investors own 35.88% of the company's stock.

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.

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