Baillie Gifford & Co. Increases Stock Position 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. lifted its holdings in shares of ODDITY Tech Ltd. (NASDAQ:ODD - Free Report) by 4.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,255,326 shares of the company's stock after buying an additional 285,745 shares during the quarter. Baillie Gifford & Co. owned about 11.20% of ODDITY Tech worth $270,605,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Tempus Wealth Planning LLC purchased a new stake in ODDITY Tech in the 1st quarter worth approximately $369,000. KLP Kapitalforvaltning AS lifted its stake in ODDITY Tech by 88.9% in 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. Massachusetts Financial Services Co. MA lifted its stake in ODDITY Tech by 0.5% in 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. New York State Common Retirement Fund lifted its stake in ODDITY Tech by 19.7% in the 1st quarter. New York State Common Retirement Fund now owns 172,843 shares of the company's stock worth $7,477,000 after purchasing an additional 28,453 shares in the last quarter. Finally, Calamos Advisors LLC purchased a new stake in ODDITY Tech in the 1st quarter worth approximately $1,162,000. 35.88% of the stock is currently owned by hedge funds and other institutional investors.

ODDITY Tech Price Performance

Shares of NASDAQ:ODD opened at $69.43 on Friday. The company's fifty day moving average price is $72.00 and its 200-day moving average price is $55.29. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 39.90, a PEG ratio of 3.26 and a beta of 3.30. ODDITY Tech Ltd. has a one year low of $32.71 and a one year high of $79.18.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.06. The firm had revenue of $268.08 million for 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 business's revenue for the quarter was up 26.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.61 EPS. As a group, equities research analysts expect that ODDITY Tech Ltd. will post 1.62 EPS for the current year.

Analyst Ratings Changes

ODD has been the topic of several recent analyst reports. Barclays increased their target price on shares of ODDITY Tech from $60.00 to $73.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. KeyCorp increased their target price on shares of ODDITY Tech from $65.00 to $90.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. JMP Securities reiterated a "market outperform" rating and issued a $66.00 target price on shares of ODDITY Tech in a research note on Tuesday, April 22nd. Bank of America increased their target price on shares of ODDITY Tech from $68.00 to $80.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Finally, JPMorgan Chase & Co. increased their price target on shares of ODDITY Tech from $63.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, June 3rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $70.13.

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.

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