XTX Topco Ltd Buys New Shares in ODDITY Tech Ltd. (NASDAQ:ODD)

Key Points

• XTX Topco Ltd acquired 13,492 shares of ODDITY Tech Ltd. in Q1, valued at approximately $584,000, marking a significant investment in the company.
• Several analysts have recently upgraded ODDITY Tech's stock, raising the price target to as high as $80.00, with a consensus rating of "Moderate Buy."
• ODDITY Tech reported a 25.1% revenue increase year-over-year with earnings of $0.92 per share, surpassing analyst expectations for the quarter.

XTX Topco Ltd bought a new stake in ODDITY Tech Ltd. (NASDAQ:ODD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,492 shares of the company's stock, valued at approximately $584,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. bought a new stake in shares of ODDITY Tech during the 1st quarter worth $190,000. Baillie Gifford & Co. boosted its stake in shares of ODDITY Tech by 4.8% in the 1st quarter. Baillie Gifford & Co. now owns 6,255,326 shares of the company's stock valued at $270,605,000 after purchasing an additional 285,745 shares in the last quarter. Tempus Wealth Planning LLC bought a new stake in shares of ODDITY Tech during the 1st quarter valued at approximately $369,000. KLP Kapitalforvaltning AS increased its position in ODDITY Tech by 88.9% during the 1st quarter. KLP Kapitalforvaltning AS now owns 13,600 shares of the company's stock worth $588,000 after purchasing an additional 6,400 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in ODDITY Tech by 0.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,289,493 shares of the company's stock worth $55,783,000 after purchasing an additional 6,419 shares in the last quarter. Institutional investors own 35.88% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on ODD shares. Truist Financial raised their target price on shares of ODDITY Tech from $65.00 to $78.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Bank of America raised their price objective on ODDITY Tech from $68.00 to $80.00 and gave the company a "buy" rating in a report on Friday, June 27th. KeyCorp upped their target price on ODDITY Tech from $65.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. The Goldman Sachs Group increased their target price on ODDITY Tech from $47.00 to $52.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Finally, Barclays boosted their price target on ODDITY Tech from $60.00 to $73.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $74.88.

ODDITY Tech Trading Up 0.4%

Shares of NASDAQ ODD traded up $0.25 during trading on Wednesday, reaching $57.97. The company had a trading volume of 2,033,662 shares, compared to its average volume of 1,269,097. The company's fifty day moving average price is $72.25 and its 200-day moving average price is $56.76. ODDITY Tech Ltd. has a 12 month low of $32.71 and a 12 month high of $79.18. The stock has a market cap of $3.24 billion, a P/E ratio of 32.21, a PEG ratio of 2.69 and a beta of 3.27. The company has a quick ratio of 1.29, a current ratio of 6.32 and a debt-to-equity ratio of 1.66.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.04. The firm had revenue of $241.14 million during the quarter, compared to the consensus estimate of $237.44 million. ODDITY Tech had a return on equity of 32.17% and a net margin of 14.65%. The business's revenue was up 25.1% compared to the same quarter last year. During the same period last year, the business posted $0.82 EPS. As a group, research analysts expect that ODDITY Tech Ltd. will post 1.62 earnings per share for the current year.

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.