Point72 Asset Management L.P. Increases Position in Oddity Tech Ltd. (NASDAQ:ODD)

Point72 Asset Management L.P. increased its position in shares of Oddity Tech Ltd. (NASDAQ:ODD - Free Report) by 33.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,200 shares of the company's stock after purchasing an additional 5,600 shares during the period. Point72 Asset Management L.P.'s holdings in Oddity Tech were worth $933,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Penn Capital Management Company LLC bought a new stake in shares of Oddity Tech during the fourth quarter worth $8,690,000. Susquehanna Fundamental Investments LLC acquired a new stake in Oddity Tech in the fourth quarter worth $329,000. Wells Fargo & Company MN lifted its holdings in Oddity Tech by 17.6% during 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. Blue Trust Inc. increased its stake in Oddity Tech by 33.2% during the 4th quarter. Blue Trust Inc. now owns 6,437 shares of the company's stock worth $260,000 after purchasing an additional 1,603 shares in the last quarter. Finally, Norges Bank acquired a new position in Oddity Tech in the 4th quarter worth $9,470,000. Institutional investors and hedge funds own 35.88% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ODD. Bank of America upped their target price on Oddity Tech from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Truist Financial boosted their price objective on shares of Oddity Tech from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. KeyCorp cut their target price on shares of Oddity Tech from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. 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. Finally, Barclays lifted their target price on Oddity Tech from $42.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $54.63.

Oddity Tech Trading Up 0.7%

ODD stock traded up $0.48 during mid-day trading on Wednesday, reaching $72.41. The company's stock had a trading volume of 262,134 shares, compared to its average volume of 559,470. Oddity Tech Ltd. has a 12 month low of $32.71 and a 12 month high of $73.65. The business's 50 day moving average price is $51.81 and its 200 day moving average price is $47.21. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 44.07, a price-to-earnings-growth ratio of 1.48 and a beta of 3.44.

Oddity Tech (NASDAQ:ODD - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.06. The business had revenue of $268.08 million for the quarter, compared to analyst estimates of $260.71 million. Oddity Tech had a return on equity of 29.02% and a net margin of 16.32%. The company's quarterly revenue was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 earnings per share. As a group, equities analysts expect that Oddity Tech Ltd. will post 1.62 EPS for the current fiscal 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.