JMP Securities Boosts ODDITY Tech (NASDAQ:ODD) Price Target to $80.00

Key Points

• JMP Securities has raised its price target for ODDITY Tech stock from $72.00 to $80.00, indicating a potential upside of 8.05% from the current price.
• Multiple research firms have issued positive ratings and target increases for ODDITY Tech, with Truist Financial raising their target to $78.00 and KeyCorp raising it to $90.00.
• The company reported strong quarterly earnings, achieving $0.92 EPS, surpassing analysts' expectations of $0.88, with a 25.1% year-over-year revenue growth.

ODDITY Tech (NASDAQ:ODD - Get Free Report) had its price objective increased by stock analysts at JMP Securities from $72.00 to $80.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "market outperform" rating on the stock. JMP Securities' price objective suggests a potential upside of 37.41% from the company's current price.

A number of other research analysts also recently commented on ODD. JPMorgan Chase & Co. increased their price objective on shares of ODDITY Tech from $63.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, June 3rd. Barclays increased their price objective on shares of ODDITY Tech from $60.00 to $73.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. KeyCorp raised their price target on shares of ODDITY Tech from $65.00 to $90.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Bank of America raised their price target on shares of ODDITY Tech from $68.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Finally, Truist Financial raised their price target on shares of ODDITY Tech from $65.00 to $78.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $74.88.

ODDITY Tech Stock Up 0.8%

ODD traded up $0.48 during trading hours on Tuesday, reaching $58.22. 1,596,098 shares of the stock traded hands, compared to its average volume of 1,366,669. The firm's fifty day simple moving average is $71.37 and its two-hundred day simple moving average is $56.95. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 32.34, a PEG ratio of 2.69 and a beta of 3.27. ODDITY Tech has a fifty-two week low of $32.71 and a fifty-two week high of $79.18. The company has a debt-to-equity ratio of 1.66, a current ratio of 6.32 and a quick ratio of 1.29.

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 for the quarter, beating analysts' consensus estimates of $0.88 by $0.04. ODDITY Tech had a net margin of 14.65% and a return on equity of 32.17%. The business had revenue of $241.14 million during the quarter, compared to analyst estimates of $237.44 million. During the same period last year, the business earned $0.82 EPS. The business's revenue was up 25.1% on a year-over-year basis. As a group, analysts forecast that ODDITY Tech will post 1.62 earnings per share for the current fiscal year.

Institutional Trading of ODDITY Tech

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in ODDITY Tech during the 4th quarter valued at about $467,000. American Century Companies Inc. increased its stake in ODDITY Tech by 5.1% during the 4th quarter. American Century Companies Inc. now owns 12,334 shares of the company's stock valued at $518,000 after buying an additional 593 shares during the period. Sei Investments Co. increased its stake in ODDITY Tech by 6.8% during the 4th quarter. Sei Investments Co. now owns 26,335 shares of the company's stock valued at $1,107,000 after buying an additional 1,674 shares during the period. JPMorgan Chase & Co. increased its stake in ODDITY Tech by 37.7% during the 4th quarter. JPMorgan Chase & Co. now owns 170,878 shares of the company's stock valued at $7,180,000 after buying an additional 46,776 shares during the period. Finally, Norges Bank acquired a new position in ODDITY Tech during the 4th quarter valued at about $9,470,000. 35.88% of the stock is currently owned by institutional investors.

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.