KLP Kapitalforvaltning AS Has $588,000 Position in ODDITY Tech Ltd. (NASDAQ:ODD)

Key Points

• KLP Kapitalforvaltning AS significantly increased its stake in ODDITY Tech Ltd. by 88.9%, owning 13,600 shares valued at $588,000 after purchasing an additional 6,400 shares.
• Wall Street analysts have raised their price targets for ODDITY Tech, with estimates now ranging from $52.00 to $90.00, and a consensus rating of "Moderate Buy".
• ODDITY Tech's recent earnings report revealed a 26.7% year-over-year revenue increase, beating expectations with $0.69 EPS compared to an anticipated $0.63 EPS.

KLP Kapitalforvaltning AS raised its position in shares of ODDITY Tech Ltd. (NASDAQ:ODD - Free Report) by 88.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,600 shares of the company's stock after purchasing an additional 6,400 shares during the period. KLP Kapitalforvaltning AS's holdings in ODDITY Tech were worth $588,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new position in ODDITY Tech during the 1st quarter valued at $400,000. Woodline Partners LP acquired a new stake in shares of ODDITY Tech in the fourth quarter valued at $5,460,000. Penn Capital Management Company LLC bought a new position in ODDITY Tech during the fourth quarter valued at about $8,690,000. Susquehanna Fundamental Investments LLC acquired a new position in ODDITY Tech during the fourth quarter worth about $329,000. Finally, Wells Fargo & Company MN raised its position in ODDITY Tech by 17.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,999 shares of the company's stock worth $126,000 after acquiring an additional 449 shares in the last quarter. 35.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ODD shares. The Goldman Sachs Group lifted their price objective on shares of ODDITY Tech from $47.00 to $52.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Barclays lifted their price target on shares of ODDITY Tech from $60.00 to $73.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. KeyCorp increased their price objective on ODDITY Tech from $65.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. JMP Securities reissued a "market outperform" rating and set a $66.00 price objective on shares of ODDITY Tech in a research note on Tuesday, April 22nd. Finally, Truist Financial boosted their target price on ODDITY Tech from $65.00 to $78.00 and gave the stock a "buy" rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, ODDITY Tech currently has an average rating of "Moderate Buy" and a consensus target price of $71.75.

ODDITY Tech Stock Up 2.3%

Shares of ODD stock traded up $1.63 during trading hours on Friday, reaching $71.70. 2,086,241 shares of the company's stock were exchanged, compared to its average volume of 888,217. The business has a fifty day moving average price of $72.45 and a 200-day moving average price of $56.37. The stock has a market capitalization of $4.00 billion, a P/E ratio of 41.21, a P/E/G ratio of 3.26 and a beta of 3.27. ODDITY Tech Ltd. has a fifty-two week low of $32.71 and a fifty-two week high of $79.18.

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

ODDITY Tech 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.