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

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 target price increased by stock analysts at JMP Securities from $72.00 to $80.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "market outperform" rating on the stock. JMP Securities' price target would suggest a potential upside of 38.00% from the company's previous close.

Several other research analysts also recently weighed in on ODD. Truist Financial upped their target price on ODDITY Tech from $65.00 to $78.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Barclays boosted their price target on ODDITY Tech from $60.00 to $73.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. raised their price objective on ODDITY Tech from $63.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, June 3rd. The Goldman Sachs Group upped their price target on shares of ODDITY Tech from $47.00 to $52.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Finally, Bank of America increased their target price on shares of ODDITY Tech from $68.00 to $80.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $74.88.

ODDITY Tech Trading Up 0.4%

Shares of ODDITY Tech stock opened at $57.97 on Tuesday. 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 quick ratio of 1.29 and a current ratio of 6.32. The company has a market capitalization of $3.24 billion, a P/E ratio of 32.21, a P/E/G ratio of 2.69 and a beta of 3.27. The company has a fifty day moving average of $71.97 and a 200 day moving average of $56.77.

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

Hedge Funds Weigh In On ODDITY Tech

Institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC bought a new stake in shares of ODDITY Tech during the 1st quarter valued at about $400,000. Woodline Partners LP acquired a new position in shares of ODDITY Tech in the 4th quarter worth approximately $5,460,000. Penn Capital Management Company LLC acquired a new stake in shares of ODDITY Tech during the 4th quarter valued at $8,690,000. Susquehanna Fundamental Investments LLC purchased a new position in ODDITY Tech in the 4th quarter worth about $329,000. Finally, Wells Fargo & Company MN raised its holdings in ODDITY Tech by 17.6% during the 4th quarter. Wells Fargo & Company MN now owns 2,999 shares of the company's stock worth $126,000 after buying an additional 449 shares during the period. 35.88% of the stock is owned by institutional investors and hedge funds.

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.