ODDITY Tech (NASDAQ:ODD) Raised to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded ODDITY Tech to “strong buy” from “hold,” but broader analyst sentiment remains cautious: MarketBeat reports an average “reduce” rating and a $22.35 consensus price target.
• ODDITY opened at $23.17, with a $1.33 billion market capitalization and a 12-month trading range of $9.25 to $52.00. The stock carries a high price-to-earnings ratio of 96.54 and beta of 2.24.
• The company’s latest quarterly results exceeded expectations, with $0.20 in EPS versus the $0.12 consensus and $180.52 million in revenue, although revenue declined 24.9% year over year and analysts expect a full-year loss.

ODDITY Tech (NASDAQ:ODD - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Wednesday, Zacks reports.

Several other research analysts have also recently issued reports on ODD. JPMorgan Chase & Co. started coverage on ODDITY Tech in a research report on Monday, September 21st. They issued a "neutral" rating and a $18.00 price objective for the company. Needham & Company LLC reissued a "hold" rating on shares of ODDITY Tech in a report on Tuesday, September 8th. Morgan Stanley boosted their target price on shares of ODDITY Tech from $16.50 to $18.50 and gave the stock an "equal weight" rating in a research report on Thursday. Wall Street Zen cut shares of ODDITY Tech from a "sell" rating to a "strong sell" rating in a research note on Saturday, October 10th. Finally, Bank of America reaffirmed an "underperform" rating on shares of ODDITY Tech in a research note on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $22.35.

ODDITY Tech Stock Performance

NASDAQ ODD opened at $23.17 on Wednesday. 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 business's 50 day moving average is $16.50 and its two-hundred day moving average is $14.99. ODDITY Tech has a 12-month low of $9.25 and a 12-month high of $52.00. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 96.54 and a beta of 2.24.

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

Insider Activity at ODDITY Tech

In other news, CFO Mann Drucker sold 7,717 shares of the business'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 transaction of $116,449.53. Following the sale, the chief financial officer owned 116,135 shares of the company's stock, valued at $1,752,477.15. The trade was a 6.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 62,852 shares of company stock worth $938,716.

Hedge Funds Weigh In On ODDITY Tech

Several hedge funds have recently bought and sold shares of ODD. USS Investment Management Ltd boosted its position in ODDITY Tech by 6.4% during the first quarter. USS Investment Management Ltd now owns 14,633 shares of the company's stock worth $196,000 after purchasing an additional 880 shares in the last quarter. Blue Trust Inc. grew its holdings in ODDITY Tech by 14.9% in the first quarter. Blue Trust Inc. now owns 11,359 shares of the company's stock valued at $152,000 after purchasing an additional 1,470 shares during the last quarter. Sigma Planning Corp grew its holdings 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 purchasing an additional 3,605 shares during the last quarter. Juncture Wealth Strategies LLC increased its position in shares of 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 in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of ODDITY Tech in the first quarter valued at $104,000. 35.88% of the stock is owned by hedge funds and other institutional investors.

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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