ODDITY Tech (NASDAQ:ODD) Price Target Raised to $61.00

Key Points

• Morgan Stanley has increased the price target for ODDITY Tech from $56.00 to $61.00, maintaining an "equal weight" rating on the stock.
• Other brokerages have also raised their price targets, with Truist Financial upgrading to $78.00 and KeyCorp raising theirs to $90.00, reflecting strong analyst interest in the company.
• ODDITY Tech reported better-than-expected earnings of $0.92 per share and revenue of $241.14 million for the latest quarter, demonstrating a year-over-year revenue growth of 25.1%.

ODDITY Tech (NASDAQ:ODD - Get Free Report) had its price target boosted by equities researchers at Morgan Stanley from $56.00 to $61.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's price objective indicates a potential upside of 4.77% from the stock's current price.

A number of other equities analysts have also commented on the stock. The Goldman Sachs Group raised their price objective on shares of ODDITY Tech from $47.00 to $52.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. KeyCorp increased their price objective on ODDITY Tech from $65.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. JPMorgan Chase & Co. lifted their price target on ODDITY Tech from $63.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. JMP Securities upped their target price on shares of ODDITY Tech from $72.00 to $80.00 and gave the company a "market outperform" rating in a research note on Tuesday, August 5th. Finally, Barclays boosted 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 report on Tuesday, July 15th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, ODDITY Tech currently has an average rating of "Moderate Buy" and an average target price of $74.88.

ODDITY Tech Stock Performance

ODDITY Tech stock traded up $0.48 during trading hours on Wednesday, hitting $58.22. The company had a trading volume of 1,596,098 shares, compared to its average volume of 1,416,213. ODDITY Tech has a one year low of $32.71 and a one year 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 5.57. The firm has a 50-day moving average of $71.37 and a 200 day moving average of $57.12. The firm has a market cap of $3.25 billion, a PE ratio of 32.34, a PEG ratio of 2.77 and a beta of 3.27.

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

Institutional Trading of ODDITY Tech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ODD. Sheets Smith Wealth Management grew its stake in ODDITY Tech by 1.5% in the first quarter. Sheets Smith Wealth Management now owns 20,792 shares of the company's stock valued at $899,000 after purchasing an additional 315 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of ODDITY Tech by 17.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,999 shares of the company's stock valued at $126,000 after buying an additional 449 shares in the last quarter. California State Teachers Retirement System increased its holdings in ODDITY Tech by 1.7% during the fourth quarter. California State Teachers Retirement System now owns 31,401 shares of the company's stock worth $1,319,000 after buying an additional 511 shares during the last quarter. Deutsche Bank AG raised its position in ODDITY Tech by 65.0% during the first quarter. Deutsche Bank AG now owns 1,340 shares of the company's stock worth $58,000 after acquiring an additional 528 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in ODDITY Tech by 5.1% in the fourth quarter. American Century Companies Inc. now owns 12,334 shares of the company's stock valued at $518,000 after acquiring an additional 593 shares during the last quarter. 35.88% of the stock is currently owned by institutional investors and hedge funds.

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.