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

Key Points

• Analysts collectively rate ODDITY Tech “Reduce”: Four analysts recommend selling and nine advise holding, with an average 12-month price target of $25.39.
• ODDITY Tech shares opened at $12.30, well below their 52-week high of $64.23. The company’s latest quarter included an adjusted EPS loss of $0.17, missing estimates, while revenue fell 26.2% year over year despite exceeding forecasts.
• The CFO sold 109,602 shares worth approximately $1.65 million under a pre-arranged trading plan to cover tax obligations. Institutional investors own 35.88% of the company.

Shares of ODDITY Tech Ltd. (NASDAQ:ODD - Get Free Report) have been given a consensus rating of "Reduce" by the thirteen research firms that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $25.3864.

A number of research analysts recently weighed in on ODD shares. Jefferies Financial Group reiterated a "hold" rating and issued a $10.25 price objective on shares of ODDITY Tech in a research note on Tuesday, June 2nd. Barclays cut their price objective on shares of ODDITY Tech from $13.00 to $8.00 and set an "underweight" rating for the company in a research report on Wednesday, June 3rd. Zacks Research raised ODDITY Tech from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. KeyCorp reissued a "sector weight" rating on shares of ODDITY Tech in a research note on Wednesday, June 3rd. Finally, Needham & Company LLC reissued a "hold" rating on shares of ODDITY Tech in a research note on Tuesday, June 2nd.

ODDITY Tech Trading Up 1.7%

Shares of ODDITY Tech stock opened at $12.30 on Wednesday. The stock has a market capitalization of $708.23 million, a P/E ratio of 15.57 and a beta of 2.38. ODDITY Tech has a 52-week low of $9.25 and a 52-week high of $64.23. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.86 and a current ratio of 4.06. The stock's 50-day simple moving average is $14.60 and its 200 day simple moving average is $16.13.

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

Insider Activity

In other news, CFO Mann Lindsay Drucker sold 109,602 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer directly owned 77,709 shares in the company, valued at approximately $1,172,628.81. This represents a 58.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 130,678 shares of company stock valued at $1,956,201.

Institutional Trading of ODDITY Tech

A number of hedge funds have recently bought and sold shares of the company. Wexford Capital LP bought a new position in ODDITY Tech during the third quarter valued at approximately $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of ODDITY Tech by 134.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company's stock worth $69,000 after acquiring an additional 651 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of ODDITY Tech in the 2nd quarter worth approximately $71,000. SG Americas Securities LLC bought a new position in shares of ODDITY Tech during the 1st quarter valued at $104,000. Finally, Headlands Technologies LLC purchased a new position in ODDITY Tech in the 2nd quarter worth $108,000. Institutional investors own 35.88% of the company's stock.

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

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