ODDITY Tech Ltd. (NASDAQ:ODD) Stock Now Rated "Reduce" by Sell-Side Analysts

Key Points

• Analysts have a bearish consensus: Fourteen firms rate ODDITY Tech “Reduce” overall, with four sells and ten holds. The average 12-month price target is $22.15.
• ODDITY Tech shares opened at $19.14 and have traded between $9.25 and $59.96 over the past year. The stock carries a high P/E ratio of 79.75, while analysts expect a full-year loss of $0.25 per share.
• The company beat quarterly earnings expectations with EPS of $0.20 versus $0.12 expected, but revenue fell 24.9% year over year to $180.52 million. Insiders sold 62,852 shares worth approximately $938,716 over the prior 90 days.

Shares of ODDITY Tech Ltd. (NASDAQ:ODD - Get Free Report) have been assigned an average rating of "Reduce" from the fourteen ratings firms that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $22.15.

A number of equities analysts have commented on the stock. Jefferies Financial Group lifted their target price on shares of ODDITY Tech from $16.00 to $18.00 and gave the stock a "hold" rating in a research note on Wednesday, September 9th. Citigroup reissued a "market perform" rating on shares of ODDITY Tech in a research note on Thursday, September 10th. Wall Street Zen upgraded shares of ODDITY Tech from a "strong sell" rating to a "sell" rating in a report on Saturday, September 12th. Zacks Research upgraded shares of ODDITY Tech from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of ODDITY Tech in a research report on Tuesday, September 8th.

ODDITY Tech Stock Down 0.6%

Shares of NASDAQ:ODD opened at $19.14 on Thursday. ODDITY Tech has a 52-week low of $9.25 and a 52-week high of $59.96. The stock has a market cap of $1.10 billion, a P/E ratio of 79.75 and a beta of 2.24. The business has a fifty day moving average of $15.68 and a two-hundred day moving average of $14.66. The company has a quick ratio of 2.11, a current ratio of 3.45 and a debt-to-equity ratio of 2.21.

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

Insider Transactions at ODDITY Tech

In other ODDITY Tech news, CFO Mann Drucker sold 7,717 shares of the firm's 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 sale, the chief financial officer owned 116,135 shares of the company's stock, valued at $1,752,477.15. This trade represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 62,852 shares of company stock worth $938,716 over the last ninety days.

Hedge Funds Weigh In On ODDITY Tech

Several large investors have recently modified their holdings of the business. USS Investment Management Ltd grew its holdings in shares of ODDITY Tech by 6.4% in the first 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 in 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 worth $152,000 after buying an additional 1,470 shares in the last quarter. 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 worth $141,000 after buying an additional 3,605 shares in the last quarter. Juncture Wealth Strategies LLC boosted its position in ODDITY Tech by 17.8% in the 3rd 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 during the period. Finally, SG Americas Securities LLC purchased a new position in ODDITY Tech in the 1st quarter valued at approximately $104,000. 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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