ODDITY Tech Ltd. (NASDAQ:ODD) Given Average Rating of "Reduce" by Analysts

Key Points

• Analyst sentiment is bearish: ODDITY Tech has a consensus rating of "Reduce" from 13 covering analysts, with five sell ratings and eight hold ratings. The average 1-year price target is about $25.39, though several firms recently cut their targets.
• Recent earnings were mixed: The company reported EPS of -$0.17, missing estimates, while revenue came in at $197.94 million, above expectations but down 26.2% year over year. Analysts now expect the company to post -0.55 EPS for the current fiscal year.
• Insider and institutional activity has been active: CFO Mann Lindsay Drucker sold 109,602 shares in a pre-arranged transaction, and insiders sold 128,805 shares over the last three months. Meanwhile, institutional investors remain significant owners, holding about 35.88% of the stock.

ODDITY Tech Ltd. (NASDAQ:ODD - Get Free Report) has been given a consensus rating of "Reduce" by the thirteen ratings firms that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $25.3864.

A number of research firms have issued reports on ODD. Jefferies Financial Group reiterated a "hold" rating and issued a $10.25 target price on shares of ODDITY Tech in a research report on Tuesday, June 2nd. Zacks Research cut shares of ODDITY Tech from a "hold" rating to a "strong sell" rating in a report on Monday, June 29th. The Goldman Sachs Group cut ODDITY Tech from a "hold" rating to a "sell" rating and reduced their price objective for the company from $16.00 to $8.00 in a research report on Wednesday, June 3rd. Truist Financial lowered their target price on ODDITY Tech from $18.00 to $12.00 and set a "hold" rating on the stock in a research note on Wednesday, June 3rd. Finally, Morgan Stanley dropped their target price on ODDITY Tech from $16.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 3rd.

Insider Activity

In related news, CFO Mann Lindsay Drucker sold 109,602 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $15.09, for a total value of $1,653,894.18. Following the completion of the sale, the chief financial officer owned 77,709 shares of the company's stock, valued at approximately $1,172,628.81. The trade was a 58.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 128,805 shares of company stock worth $1,932,910.

Institutional Trading of ODDITY Tech

A number of institutional investors have recently added to or reduced their stakes in ODD. Baillie Gifford & Co. raised its holdings in shares of ODDITY Tech by 17.8% during the 4th quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company's stock valued at $286,188,000 after purchasing an additional 1,076,921 shares in the last quarter. Peregrine Capital Management LLC boosted its holdings in ODDITY Tech by 31.2% in the fourth quarter. Peregrine Capital Management LLC now owns 190,485 shares of the company's stock worth $7,654,000 after purchasing an additional 45,253 shares in the last quarter. Sparta 24 Ltd. bought a new stake in ODDITY Tech in the first quarter worth $1,082,000. Halter Ferguson Financial Inc. acquired a new position in ODDITY Tech during the first quarter worth $2,789,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its position in ODDITY Tech by 110.6% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 590,300 shares of the company's stock worth $23,718,000 after buying an additional 310,000 shares during the last quarter. 35.88% of the stock is currently owned by institutional investors and hedge funds.

ODDITY Tech Price Performance

Shares of ODD opened at $15.34 on Friday. The company has a market capitalization of $883.20 million, a price-to-earnings ratio of 19.42 and a beta of 2.37. ODDITY Tech has a fifty-two week low of $9.25 and a fifty-two week high of $75.45. The company has a debt-to-equity ratio of 1.96, a current ratio of 4.06 and a quick ratio of 2.86. The business's 50-day moving average is $13.80 and its 200-day moving average is $18.84.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.13). ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The company had revenue of $197.94 million for the quarter, compared to analyst estimates of $187.87 million. During the same quarter in the prior year, the business posted $0.69 earnings per share. The business's revenue for the quarter was down 26.2% compared to the same quarter last year. Equities research analysts expect that ODDITY Tech will post -0.55 EPS for the current fiscal year.

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. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.

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