Federated Hermes Inc. Buys New Shares in ODDITY Tech Ltd. (NASDAQ:ODD)

Key Points

• Federated Hermes Inc. acquired a new stake in ODDITY Tech Ltd., purchasing 4,400 shares valued at approximately $190,000 during the first quarter.
• ODDITY Tech reported a $0.92 earnings per share (EPS) for the last quarter, exceeding analysts' expectations and demonstrating a 25.1% increase in revenue year-over-year.
• Several analysts have increased their price targets for ODDITY Tech, with a consensus target now at $74.88 and an overall rating of "Moderate Buy."

Federated Hermes Inc. bought a new stake in ODDITY Tech Ltd. (NASDAQ:ODD - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,400 shares of the company's stock, valued at approximately $190,000.

Other large investors also recently made changes to their positions in the company. Baillie Gifford & Co. lifted its position in shares of ODDITY Tech by 4.8% during the 1st quarter. Baillie Gifford & Co. now owns 6,255,326 shares of the company's stock valued at $270,605,000 after acquiring an additional 285,745 shares during the period. Granahan Investment Management LLC grew its holdings in shares of ODDITY Tech by 15.9% during the 4th quarter. Granahan Investment Management LLC now owns 1,538,198 shares of the company's stock worth $64,635,000 after purchasing an additional 211,485 shares in the last quarter. Bamco Inc. NY lifted its position in ODDITY Tech by 14.7% during the fourth quarter. Bamco Inc. NY now owns 1,429,198 shares of the company's stock worth $60,055,000 after purchasing an additional 183,152 shares during the period. Capital International Investors grew its stake in ODDITY Tech by 29.5% during the fourth quarter. Capital International Investors now owns 1,365,744 shares of the company's stock worth $57,389,000 after buying an additional 311,401 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in ODDITY Tech by 0.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,289,493 shares of the company's stock worth $55,783,000 after buying an additional 6,419 shares in the last quarter. Institutional investors own 35.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ODD shares. Morgan Stanley upped their price target on shares of ODDITY Tech from $56.00 to $61.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Barclays raised their target price on ODDITY Tech from $60.00 to $73.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. KeyCorp raised their price objective on ODDITY Tech from $65.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. 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 report on Friday, June 27th. Finally, Truist Financial increased their target price on shares of ODDITY Tech from $65.00 to $78.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, ODDITY Tech presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.88.

ODDITY Tech Trading Up 2.9%

NASDAQ ODD traded up $1.69 during trading hours on Tuesday, reaching $60.19. The company's stock had a trading volume of 675,390 shares, compared to its average volume of 1,400,464. The firm has a fifty day simple moving average of $70.67 and a 200-day simple moving average of $57.24. The company has a debt-to-equity ratio of 1.66, a current ratio of 6.32 and a quick ratio of 5.57. ODDITY Tech Ltd. has a 52 week low of $32.71 and a 52 week high of $79.18. The stock has a market cap of $3.36 billion, a P/E ratio of 33.44, a P/E/G ratio of 2.78 and a beta of 3.27.

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