ODDITY Tech (NASDAQ:ODD) Given "Hold" Rating at Needham & Company LLC

Key Points

• Needham & Company reaffirmed its “Hold” rating on ODDITY Tech, while the broader analyst consensus is “Reduce,” with nine Hold and four Sell ratings and an average price target of $25.75.
• ODDITY Tech shares opened at $13.75, well below their 52-week high of $64.23, with a market capitalization of approximately $792 million.
• The company’s CFO sold 109,602 shares under a pre-arranged 10b5-1 plan to cover tax obligations, and insiders have sold about $2.6 million worth of stock over the past 90 days.

ODDITY Tech (NASDAQ:ODD - Get Free Report)'s stock had its "hold" rating reissued by equities research analysts at Needham & Company LLC in a report released on Tuesday, Benzinga reports.

Several other research analysts also recently commented on the company. Truist Financial boosted their target price on ODDITY Tech from $12.00 to $16.00 and gave the stock a "hold" rating in a report on Tuesday, September 1st. The Goldman Sachs Group downgraded ODDITY Tech from a "hold" rating to a "sell" rating and cut their price objective for the company from $16.00 to $8.00 in a research report on Wednesday, June 3rd. Jefferies Financial Group reissued a "hold" rating and issued a $10.25 price objective on shares of ODDITY Tech in a research note on Tuesday, June 2nd. Zacks Research upgraded ODDITY Tech from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Finally, Barclays decreased their target price on ODDITY Tech from $13.00 to $8.00 and set an "underweight" rating on the stock in a report on Wednesday, June 3rd. Nine equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $25.75.

ODDITY Tech Price Performance

Shares of ODDITY Tech stock opened at $13.75 on Tuesday. The stock has a market capitalization of $791.73 million, a price-to-earnings ratio of 17.41 and a beta of 2.38. The firm's 50-day moving average price is $15.02 and its two-hundred day moving average price is $14.53. The company has a current ratio of 4.06, a quick ratio of 2.86 and a debt-to-equity ratio of 1.96. ODDITY Tech has a 1-year low of $9.25 and a 1-year high of $64.23.

Insider Transactions at ODDITY Tech

In other ODDITY Tech news, CFO Mann Drucker sold 109,602 shares of the 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 approximately $1,172,628.81. This trade represents a 58.51% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 172,454 shares of company stock worth $2,592,610.

Hedge Funds Weigh In On ODDITY Tech

Several large investors have recently made changes to their positions in the company. Empowered Funds LLC bought a new position in shares of ODDITY Tech in the 1st quarter valued at about $1,275,000. Rice Hall James & Associates LLC bought a new stake in shares of ODDITY Tech during the first quarter worth approximately $3,533,000. Sparta 24 Ltd. bought a new stake in shares of ODDITY Tech during the first quarter worth approximately $1,082,000. Halter Ferguson Financial Inc. acquired a new position in ODDITY Tech in the first quarter valued at approximately $2,789,000. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in ODDITY Tech by 32.9% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 121,185 shares of the company's stock valued at $1,621,000 after buying an additional 30,000 shares during the period. Institutional investors and hedge funds own 35.88% of the company's stock.

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.

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