Lord Abbett & CO. LLC Increases Holdings in Oddity Tech Ltd. (NASDAQ:ODD)

Lord Abbett & CO. LLC grew its holdings in shares of Oddity Tech Ltd. (NASDAQ:ODD - Free Report) by 640.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,413 shares of the company's stock after purchasing an additional 161,237 shares during the period. Lord Abbett & CO. LLC owned about 0.33% of Oddity Tech worth $7,833,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Oddity Tech during the fourth quarter worth approximately $42,000. R Squared Ltd purchased a new stake in shares of Oddity Tech in the 4th quarter valued at approximately $61,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Oddity Tech in the 3rd quarter valued at $99,000. Wells Fargo & Company MN lifted its position in shares of 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 purchasing an additional 449 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Oddity Tech during the fourth quarter worth $246,000. 35.88% of the stock is currently owned by hedge funds and other institutional investors.

Oddity Tech Price Performance

Shares of NASDAQ:ODD traded up $2.45 on Thursday, reaching $63.89. The company's stock had a trading volume of 2,593,317 shares, compared to its average volume of 546,802. Oddity Tech Ltd. has a 52-week low of $30.34 and a 52-week high of $63.99. The stock's 50-day moving average is $43.79 and its two-hundred day moving average is $43.80. The stock has a market capitalization of $3.57 billion, a P/E ratio of 38.96, a PEG ratio of 1.48 and a beta of 3.73.

Oddity Tech (NASDAQ:ODD - Get Free Report) last posted its quarterly earnings data 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 return on equity of 29.02% and a net margin of 16.32%. The company had revenue of $268.08 million during the quarter, compared to analysts' expectations of $260.71 million. During the same period last year, the firm earned $0.61 EPS. The firm's revenue for the quarter was up 26.7% 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.

Analysts Set New Price Targets

A number of brokerages have issued reports on ODD. Barclays lifted their price target on Oddity Tech from $42.00 to $46.00 and gave the stock an "equal weight" rating in a report on Thursday, February 27th. KeyCorp lowered their price target on Oddity Tech from $52.00 to $50.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Bank of America upped their target price on shares of Oddity Tech from $50.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, February 27th. The Goldman Sachs Group lifted their price target on shares of Oddity Tech from $47.00 to $52.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, JMP Securities restated a "market outperform" rating and issued a $66.00 price objective on shares of Oddity Tech in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $54.63.

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.