ODDITY Tech (NASDAQ:ODD) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays raised its ODDITY Tech price target from $12 to $15 but kept an “underweight” rating; the new target implies about 14% downside from the stock’s current price.
• Analyst views remain mixed: MarketBeat lists one Strong Buy, ten Holds, and three Sells, with an overall “Reduce” rating and a consensus price target of $23.45.
• ODDITY beat quarterly estimates, reporting EPS of $0.37 versus $0.30 expected and revenue of $144.98 million versus $140.53 million expected. Shares fell $2.45 to $17.45 on Thursday.

ODDITY Tech (NASDAQ:ODD - Get Free Report) had its target price lifted by equities research analysts at Barclays from $12.00 to $15.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Barclays's price target would indicate a potential downside of 14.04% from the company's current price.

Several other research firms also recently issued reports on ODD. Zacks Research upgraded ODDITY Tech from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 14th. Jefferies Financial Group lifted their target price on ODDITY Tech from $16.00 to $18.00 and gave the stock a "hold" rating in a report on Wednesday, September 9th. Needham & Company LLC reissued a "hold" rating on shares of ODDITY Tech in a report on Thursday. Wall Street Zen raised shares of ODDITY Tech from a "strong sell" rating to a "sell" rating in a research report on Sunday, October 18th. Finally, Morgan Stanley upped their price target on shares of ODDITY Tech from $16.50 to $18.50 and gave the company an "equal weight" rating in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued 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 price target of $23.45.

ODDITY Tech Stock Performance

ODDITY Tech stock traded down $2.45 during trading hours on Thursday, hitting $17.45. The company had a trading volume of 1,423,802 shares, compared to its average volume of 1,545,648. The firm has a market cap of $1.00 billion, a PE ratio of 72.35 and a beta of 2.14. The company has a debt-to-equity ratio of 2.21, a current ratio of 3.45 and a quick ratio of 2.11. ODDITY Tech has a one year low of $9.25 and a one year high of $46.45. The firm has a 50-day moving average of $19.59 and a 200 day moving average of $17.14.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last issued its quarterly earnings data on Wednesday, November 11th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.07. ODDITY Tech had a return on equity of 2.58% and a net margin of 2.23%. The company had revenue of $144.98 million during the quarter, compared to analysts' expectations of $140.53 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. On average, sell-side analysts expect that ODDITY Tech will post -0.25 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Mann Drucker sold 21,571 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $15.14, for a total transaction of $326,584.94. Following the sale, the chief financial officer directly owned 104,492 shares of the company's stock, valued at approximately $1,582,008.88. This represents a 17.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 ninety days, insiders sold 51,379 shares of company stock valued at $765,474.

Hedge Funds Weigh In On ODDITY Tech

Several hedge funds and other institutional investors have recently made changes to their positions in ODD. Pinnacle Wealth Planning Services Inc. raised its position in ODDITY Tech by 38.3% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 4,125 shares of the company's stock valued at $77,000 after purchasing an additional 1,142 shares in the last quarter. Sigma Planning Corp increased its holdings in shares of ODDITY Tech by 16.7% during the third quarter. Sigma Planning Corp now owns 16,940 shares of the company's stock worth $316,000 after buying an additional 2,430 shares in the last quarter. Juncture Wealth Strategies LLC increased its holdings in shares of ODDITY Tech by 17.8% during the third quarter. Juncture Wealth Strategies LLC now owns 27,119 shares of the company's stock worth $506,000 after buying an additional 4,097 shares in the last quarter. Signaturefd LLC lifted its stake in shares of ODDITY Tech by 72.0% in the 3rd quarter. Signaturefd LLC now owns 9,814 shares of the company's stock valued at $183,000 after acquiring an additional 4,109 shares during the last quarter. Finally, J. Safra Sarasin Holding AG lifted its stake in shares of ODDITY Tech by 132.6% in the 1st quarter. J. Safra Sarasin Holding AG now owns 20,000 shares of the company's stock valued at $268,000 after acquiring an additional 11,400 shares during the last quarter. 35.88% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about ODDITY Tech

Here are a few of the latest headlines about ODD:

• Positive Sentiment: ODDITY raised its full-year net revenue and adjusted EBITDA outlook; its $660 million revenue guidance is modestly above the roughly $656.6 million consensus. Some analysts also lifted their forecasts after the results. Analysts boost forecasts after results
• Neutral Sentiment: Truist raised its price target from $18 to $20 but retained a hold rating; Needham also reaffirmed hold. The higher target offers potential upside, but the ratings signal caution. Truist analyst rating
• Negative Sentiment: Despite beating estimates, third-quarter revenue declined about 2% year over year. The earnings call was characterized as showing an uneven recovery, and Jefferies lowered its price target to $20, reinforcing concerns about the pace of growth. Earnings call highlights

ODDITY Tech Company Profile

ODDITY Tech Ltd. is a technology-driven consumer company that develops and operates digital-first beauty and wellness brands. Its portfolio includes IL MAKIAGE, which offers makeup and skincare products, and SpoiledChild, which focuses on beauty and wellness products. The company uses data analytics, artificial intelligence and other technology to support product development, personalized recommendations and online shopping. Its brands primarily sell directly to consumers through e-commerce platforms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.