Bank of America Forecasts Strong Price Appreciation for ODDITY Tech (NASDAQ:ODD) Stock

ODDITY Tech (NASDAQ:ODD - Get Free Report) had its price objective lifted by equities research analysts at Bank of America from $68.00 to $80.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's price objective suggests a potential upside of 7.87% from the company's current price.

A number of other equities analysts also recently weighed in on ODD. JMP Securities reissued a "market outperform" rating and set a $66.00 target price on shares of ODDITY Tech in a research note on Tuesday, April 22nd. Truist Financial boosted their price objective on ODDITY Tech from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. KeyCorp decreased their target price on ODDITY Tech from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. boosted their price target on ODDITY Tech from $63.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, June 3rd. Finally, Barclays raised their price objective on shares of ODDITY Tech from $42.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.75.

ODDITY Tech Trading Up 3.4%

ODDITY Tech stock traded up $2.47 during mid-day trading on Friday, reaching $74.16. The company had a trading volume of 73,690 shares, compared to its average volume of 591,452. The business has a fifty day simple moving average of $65.39 and a 200 day simple moving average of $51.49. The company has a market cap of $4.14 billion, a P/E ratio of 42.68, a P/E/G ratio of 3.29 and a beta of 3.45. ODDITY Tech has a fifty-two week low of $32.71 and a fifty-two week high of $79.18.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.63 by $0.06. ODDITY Tech had a return on equity of 30.67% and a net margin of 15.12%. The firm had revenue of $268.08 million during the quarter, compared to the consensus estimate of $260.71 million. During the same period last year, the company earned $0.61 earnings per share. The business's quarterly revenue was up 26.7% on a year-over-year basis. Research analysts forecast that ODDITY Tech will post 1.62 EPS for the current year.

Institutional Trading of ODDITY Tech

Institutional investors have recently added to or reduced their stakes in the business. Mark Sheptoff Financial Planning LLC bought a new stake in ODDITY Tech during the 4th quarter valued at $42,000. Deutsche Bank AG raised its stake in shares of ODDITY Tech by 65.0% during the first quarter. Deutsche Bank AG now owns 1,340 shares of the company's stock valued at $58,000 after acquiring an additional 528 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of ODDITY Tech by 17.6% during the fourth quarter. Wells Fargo & Company MN now owns 2,999 shares of the company's stock worth $126,000 after purchasing an additional 449 shares during the period. Federated Hermes Inc. bought a new stake in shares of ODDITY Tech in the first quarter worth about $190,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of ODDITY Tech in the fourth quarter worth about $246,000. 35.88% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.