Oddity Tech (NASDAQ:ODD) Shares Gap Up to $31.26

Oddity Tech Ltd. (NASDAQ:ODD - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $31.26, but opened at $35.44. Oddity Tech shares last traded at $36.22, with a volume of 923,281 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ODD shares. Barclays cut their price objective on shares of Oddity Tech from $46.00 to $44.00 and set an "equal weight" rating for the company in a research report on Friday, April 12th. Bank of America boosted their price objective on Oddity Tech from $44.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, March 7th. JMP Securities restated a "market outperform" rating and set a $66.00 target price on shares of Oddity Tech in a research note on Thursday, March 7th. Evercore ISI started coverage on shares of Oddity Tech in a research report on Thursday, April 4th. They issued an "outperform" rating and a $57.00 price target for the company. Finally, Morgan Stanley raised their price objective on shares of Oddity Tech from $35.00 to $47.00 and gave the company an "equal weight" rating in a research report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Oddity Tech presently has an average rating of "Moderate Buy" and a consensus target price of $53.63.

Oddity Tech Stock Up 16.7 %

The stock has a market cap of $2.08 billion and a PE ratio of 35.77. The firm's fifty day moving average price is $39.04 and its 200 day moving average price is $38.89.

Oddity Tech (NASDAQ:ODD - Get Free Report) last posted its earnings results on Tuesday, March 5th. The company reported $0.05 EPS for the quarter, hitting analysts' consensus estimates of $0.05. The company had revenue of $97.25 million for the quarter, compared to the consensus estimate of $86.38 million. Oddity Tech had a return on equity of 26.22% and a net margin of 11.51%. As a group, analysts anticipate that Oddity Tech Ltd. will post 1.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sheets Smith Wealth Management lifted its holdings in shares of Oddity Tech by 72.3% in the 1st quarter. Sheets Smith Wealth Management now owns 38,332 shares of the company's stock worth $1,666,000 after acquiring an additional 16,080 shares during the last quarter. Sei Investments Co. purchased a new position in shares of Oddity Tech during the first quarter valued at approximately $780,000. Swiss National Bank raised its holdings in shares of Oddity Tech by 100.0% in the first quarter. Swiss National Bank now owns 62,600 shares of the company's stock worth $2,720,000 after buying an additional 31,300 shares during the period. Oppenheimer & Co. Inc. purchased a new position in Oddity Tech during the 1st quarter valued at $496,000. Finally, Quantbot Technologies LP bought a new position in Oddity Tech in the 1st quarter valued at $2,618,000. Hedge funds and other institutional investors own 35.88% of the company's stock.

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.