ODDITY Tech (NASDAQ:ODD) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded ODDITY Tech from “strong sell” to “sell,” while the broader analyst consensus remains “Reduce,” with an average price target of $22.35.
• ODD shares opened at $22.43 and have traded between $9.25 and $52.00 over the past year; the company carries a high P/E ratio of 93.46 and a beta of 2.24.
• ODDITY Tech beat quarterly earnings and revenue estimates, reporting $0.20 in EPS and $180.52 million in revenue, though revenue fell 24.9% year over year and insiders sold nearly $939,000 of shares in the latest quarter.

ODDITY Tech (NASDAQ:ODD - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report released on Sunday, Wall Street Zen reports.

ODD has been the topic of several other reports. Citigroup reiterated a "market perform" rating on shares of ODDITY Tech in a research report on Thursday, September 10th. Needham & Company LLC reissued a "hold" rating on shares of ODDITY Tech in a research report on Tuesday, September 8th. Bank of America reissued an "underperform" rating on shares of ODDITY Tech in a research report on Thursday, September 10th. Morgan Stanley raised their price target on shares of ODDITY Tech from $16.50 to $18.50 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, Jefferies Financial Group lifted their price objective on ODDITY Tech from $16.00 to $18.00 and gave the company a "hold" rating in a report on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, ODDITY Tech presently has an average rating of "Reduce" and an average price target of $22.35.

ODDITY Tech Stock Down 3.2%

ODD opened at $22.43 on Friday. ODDITY Tech has a fifty-two week low of $9.25 and a fifty-two week high of $52.00. 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 firm's fifty day moving average price is $16.67 and its two-hundred day moving average price is $15.04. The company has a market capitalization of $1.29 billion, a P/E ratio of 93.46 and a beta of 2.24.

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

Insiders Place Their Bets

In other ODDITY Tech news, CFO Mann Drucker sold 7,717 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 116,135 shares in the company, valued at $1,752,477.15. This represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 62,852 shares of company stock valued at $938,716 in the last quarter.

Institutional Investors Weigh In On ODDITY Tech

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of ODDITY Tech in the 1st quarter worth about $104,000. Sigma Planning Corp lifted its holdings in ODDITY Tech by 52.0% during the 1st 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. Blue Trust Inc. lifted its holdings in ODDITY Tech by 14.9% during the 1st 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. USS Investment Management Ltd lifted its holdings in ODDITY Tech by 6.4% during the 1st quarter. USS Investment Management Ltd now owns 14,633 shares of the company's stock valued at $196,000 after purchasing an additional 880 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in ODDITY Tech in the second quarter valued at about $300,000. Institutional investors and hedge funds own 35.88% of the company's stock.

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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