Baillie Gifford & Co. Increases Holdings in ODDITY Tech Ltd. (NASDAQ:ODD)

Key Points

• Baillie Gifford & Co. increased its holdings in ODDITY Tech Ltd. by 4.8%, owning approximately 11.20% of the company, valued at around $270.6 million.
• ODDITY Tech reported an impressive quarterly earnings result with EPS of $0.69, exceeding analysts' expectations and showing a revenue increase of 26.7% year-over-year.
• Recent analyst ratings have been positive, with Barclays raising its target price from $60 to $73, while KeyCorp increased it from $65 to $90, indicating growing confidence in ODDITY Tech's performance.

Baillie Gifford & Co. boosted its holdings in shares of ODDITY Tech Ltd. (NASDAQ:ODD - Free Report) by 4.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,255,326 shares of the company's stock after purchasing an additional 285,745 shares during the period. Baillie Gifford & Co. owned about 11.20% of ODDITY Tech worth $270,605,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ODD. Wells Fargo & Company MN grew its holdings in shares of ODDITY Tech by 17.6% during the 4th quarter. Wells Fargo & Company MN now owns 2,999 shares of the company's stock worth $126,000 after acquiring an additional 449 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in ODDITY Tech in the fourth quarter worth $246,000. PharVision Advisers LLC purchased a new stake in ODDITY Tech in the fourth quarter worth $299,000. KLP Kapitalforvaltning AS purchased a new stake in ODDITY Tech in the fourth quarter worth $303,000. Finally, Blue Trust Inc. grew its stake in ODDITY Tech by 15.4% in the first quarter. Blue Trust Inc. now owns 7,573 shares of the company's stock worth $328,000 after purchasing an additional 1,008 shares during the period. Hedge funds and other institutional investors own 35.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ODD. The Goldman Sachs Group boosted their price target on ODDITY Tech from $47.00 to $52.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Bank of America boosted their price target on ODDITY Tech from $68.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. JMP Securities reissued a "market outperform" rating and issued a $66.00 price target on shares of ODDITY Tech in a research report on Tuesday, April 22nd. Truist Financial upped their price objective on ODDITY Tech from $65.00 to $78.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Barclays upped their price objective on ODDITY Tech from $60.00 to $73.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $71.75.

ODDITY Tech Trading Up 1.6%

ODD stock traded up $1.08 during midday trading on Tuesday, hitting $69.51. The company's stock had a trading volume of 208,528 shares, compared to its average volume of 823,022. The company has a market cap of $3.88 billion, a PE ratio of 39.95, a P/E/G ratio of 3.17 and a beta of 3.30. The firm's 50-day moving average is $72.18 and its 200-day moving average is $55.80. ODDITY Tech Ltd. has a 12 month low of $32.71 and a 12 month high of $79.18.

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

ODDITY Tech Company Profile

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.