ODDITY Tech Ltd. (NASDAQ:ODD) Receives Average Rating of "Reduce" from Brokerages

Key Points

• ODDITY Tech has a consensus broker rating of "Reduce", with 4 analysts recommending sell and 9 recommending hold. The average 12-month price target from covering firms is about $25.39.
• Recent analyst updates have turned more cautious: Goldman Sachs reaffirmed a Sell rating and cut its target to $8.00, while Morgan Stanley and Truist also lowered their price targets. Several other firms have trimmed ratings or downgraded the stock.
• The company reported weaker-than-expected Q1 earnings and sharply cut its Q2 revenue outlook, contributing to the stock’s decline. Shares were trading near $10.07, close to their 52-week low of $9.25.

Shares of ODDITY Tech Ltd. (NASDAQ:ODD - Get Free Report) have been given a consensus rating of "Reduce" by the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation and nine have issued a hold recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $25.3864.

Several brokerages recently weighed in on ODD. Citizens Jmp cut ODDITY Tech from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 25th. Weiss Ratings cut ODDITY Tech from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, March 3rd. Needham & Company LLC reiterated a "hold" rating on shares of ODDITY Tech in a research report on Tuesday. Wall Street Zen cut ODDITY Tech from a "sell" rating to a "strong sell" rating in a research report on Saturday, April 18th. Finally, Barclays reduced their price target on ODDITY Tech from $13.00 to $8.00 and set an "underweight" rating for the company in a research report on Wednesday.

Trending Headlines about ODDITY Tech

Here are the key news stories impacting ODDITY Tech this week:

• Negative Sentiment: ODDITY Tech posted disappointing Q1 results, with earnings missing estimates and management cutting its Q2 revenue outlook sharply, which is the main reason shares are falling. Oddity Tech (ODD) Is Down 18.7% After Weak Q1 Results And Steep Q2 Revenue Guidance Cut
• Negative Sentiment: Goldman Sachs reiterated a Sell rating and cut its price target to $8.00, signaling more downside risk. ODDITY Tech's (ODD) Sell Rating Reaffirmed at The Goldman Sachs Group
• Negative Sentiment: Morgan Stanley lowered its price target to $10.00 from $16.00, adding to concern that analysts see limited near-term upside. ODDITY Tech NASDAQ: ODD Price Target Lowered to $10.00 at Morgan Stanley
• Negative Sentiment: Truist also trimmed its target to $12.00, though it kept a Hold rating, reflecting softer expectations for the stock. ODDITY Tech NASDAQ: ODD Price Target Lowered to $12.00 at Truist Financial

Insiders Place Their Bets

In related news, CFO Mann Lindsay Drucker sold 9,604 shares of ODDITY Tech stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $12.85, for a total transaction of $123,411.40. Following the completion of the transaction, the chief financial officer directly owned 49,054 shares in the company, valued at approximately $630,343.90. This trade represents a 16.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 28,807 shares of company stock worth $402,428 in the last three months.

Institutional Trading of ODDITY Tech

Several institutional investors have recently bought and sold shares of ODD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in ODDITY Tech by 16.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,117 shares of the company's stock valued at $3,293,000 after purchasing an additional 10,582 shares during the period. Geode Capital Management LLC grew its holdings in ODDITY Tech by 12.9% in the second quarter. Geode Capital Management LLC now owns 75,063 shares of the company's stock valued at $5,660,000 after purchasing an additional 8,561 shares during the period. Legal & General Group Plc acquired a new stake in ODDITY Tech in the second quarter valued at approximately $71,000. American Century Companies Inc. grew its holdings in ODDITY Tech by 17.3% in the second quarter. American Century Companies Inc. now owns 14,300 shares of the company's stock valued at $1,079,000 after purchasing an additional 2,105 shares during the period. Finally, Invesco Ltd. acquired a new stake in ODDITY Tech in the second quarter valued at approximately $327,000. 35.88% of the stock is owned by institutional investors and hedge funds.

ODDITY Tech Trading Down 1.8%

Shares of NASDAQ:ODD opened at $10.07 on Friday. ODDITY Tech has a 52-week low of $9.25 and a 52-week high of $78.28. The stock has a market cap of $579.83 million, a price-to-earnings ratio of 12.75, a PEG ratio of 1.34 and a beta of 2.47. The company has a quick ratio of 4.06, a current ratio of 4.06 and a debt-to-equity ratio of 1.96. The business has a 50-day moving average price of $13.74 and a 200-day moving average price of $25.61.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last announced its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.17) earnings per share (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 firm had revenue of $197.94 million during the quarter, compared to analysts' expectations of $187.87 million. During the same quarter in the previous year, the business earned $0.69 earnings per share. The company's revenue for the quarter was down 26.2% compared to the same quarter last year. Equities analysts predict that ODDITY Tech will post 0.64 EPS for the current 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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