ODDITY Tech Ltd. (NASDAQ:ODD) Stock Has Average Target Price of $22.35 According to Analysts

Key Points

• Analysts maintain a cautious outlook: ODDITY Tech has an average “Reduce” rating from 14 analysts, including three sells, ten holds and one strong buy. The average 12-month price target is $22.35.
• Quarterly results exceeded expectations but weakened year over year: The company reported adjusted earnings of $0.20 per share versus the $0.12 consensus estimate and revenue of $180.52 million, although revenue declined 24.9% from the prior-year period.
• Shares remain highly volatile: ODD opened at $21.67, compared with a 52-week range of $9.25 to $46.45; its market capitalization was approximately $1.25 billion and institutional investors owned 35.88% of outstanding shares.

Shares of ODDITY Tech Ltd. (NASDAQ:ODD - Get Free Report) have earned an average rating of "Reduce" from the fourteen research firms that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $22.35.

Several research analysts have recently weighed in on ODD shares. Morgan Stanley lifted 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, October 15th. Truist Financial lifted their target price on ODDITY Tech from $16.00 to $18.00 and gave the stock a "hold" rating in a research note on Thursday, September 10th. Zacks Research raised shares of ODDITY Tech from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 14th. Jefferies Financial Group lifted their price target on shares of ODDITY Tech from $16.00 to $18.00 and gave the stock a "hold" rating in a report on Wednesday, September 9th. Finally, Weiss Ratings upgraded shares of ODDITY Tech from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, October 9th.

ODDITY Tech Stock Performance

Shares of NASDAQ ODD opened at $21.67 on Monday. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 90.29 and a beta of 2.14. ODDITY Tech has a 1-year low of $9.25 and a 1-year high of $46.45. 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 stock's 50-day moving average is $18.56 and its 200 day moving average is $17.71.

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

Insiders Place Their Bets

In other ODDITY Tech 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 completion of the sale, the chief financial officer directly owned 116,135 shares of the company's stock, valued at approximately $1,752,477.15. The trade was a 6.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 over the last quarter.

Institutional Investors Weigh In On ODDITY Tech

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Pinnacle Wealth Planning Services Inc. raised its position in shares of ODDITY Tech by 38.3% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 4,125 shares of the company's stock worth $77,000 after purchasing an additional 1,142 shares during the last quarter. SG Americas Securities LLC bought a new position in ODDITY Tech during the first quarter worth $104,000. Signaturefd LLC raised its position in shares of ODDITY Tech by 72.0% in the third quarter. Signaturefd LLC now owns 9,814 shares of the company's stock valued at $183,000 after purchasing an additional 4,109 shares during the period. Sigma Planning Corp increased its position in shares of ODDITY Tech by 52.0% during the first quarter. Sigma Planning Corp now owns 10,535 shares of the company's stock valued at $141,000 after buying an additional 3,605 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of ODDITY Tech during the 2nd quarter valued at $300,000. Institutional investors and hedge funds own 35.88% of the company's stock.

About ODDITY Tech

ODDITY Tech Ltd. is a consumer technology company that develops and operates beauty and wellness brands through a digitally native, direct-to-consumer business model. The company uses data science, artificial intelligence and proprietary technology to develop products, personalize recommendations and support online customer experiences.

Its portfolio includes IL MAKIAGE, a makeup brand offering products such as foundation, concealer and other cosmetics, and SpoiledChild, a beauty brand focused primarily on haircare and skincare products.

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