ODDITY Tech (NASDAQ:ODD) Given "Sell" Rating at The Goldman Sachs Group

Key Points

• Goldman Sachs reiterated a sell rating on ODDITY Tech and cut its price target to $8 from $16, implying further downside from current levels.
• Recent analyst sentiment has turned cautious overall, with multiple firms trimming ratings or targets; MarketBeat says the stock’s consensus view is now “Reduce” with an average price target of $28.93.
• ODDITY Tech’s latest earnings showed weaker-than-expected EPS and a 26.2% year-over-year revenue decline, while management’s Q2 revenue guidance came in below Wall Street expectations.

ODDITY Tech (NASDAQ:ODD - Get Free Report)'s stock had its "sell" rating reissued by stock analysts at The Goldman Sachs Group in a report issued on Wednesday,Benzinga reports. They currently have a $8.00 price objective on the stock, down from their prior price objective of $16.00. The Goldman Sachs Group's target price indicates a potential downside of 21.80% from the stock's current price.

A number of other analysts also recently commented on the company. Citizens Jmp downgraded ODDITY Tech from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 25th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $16.00 price target (down from $59.00) on shares of ODDITY Tech in a research report on Thursday, February 26th. Wall Street Zen cut shares of ODDITY Tech from a "sell" rating to a "strong sell" rating in a research report on Saturday, April 18th. KeyCorp reaffirmed a "sector weight" rating on shares of ODDITY Tech in a research report on Wednesday. Finally, Evercore cut shares of ODDITY Tech from an "outperform" rating to an "in-line" rating and set a $23.00 price target for the company. in a research report on Thursday, February 26th. Nine investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $28.93.

ODDITY Tech Price Performance

Shares of ODDITY Tech stock traded up $0.39 during trading on Wednesday, hitting $10.23. 2,553,906 shares of the company were exchanged, compared to its average volume of 1,932,457. The company has a quick ratio of 4.06, a current ratio of 5.24 and a debt-to-equity ratio of 1.47. ODDITY Tech has a fifty-two week low of $9.25 and a fifty-two week high of $78.28. The stock has a market capitalization of $589.04 million, a price-to-earnings ratio of 5.68, a P/E/G ratio of 1.83 and a beta of 2.47. The firm has a 50 day moving average price of $13.96 and a 200 day moving average price of $26.24.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The business had revenue of $197.94 million during the quarter, compared to analyst estimates of $187.87 million. ODDITY Tech had a net margin of 13.68% and a return on equity of 29.84%. The company's revenue was down 26.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 earnings per share. On average, equities analysts expect that ODDITY Tech will post 0.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mann Lindsay Drucker sold 9,604 shares of the stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $12.85, for a total transaction of $123,411.40. Following the transaction, the chief financial officer owned 49,054 shares of the company's stock, 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 document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 28,807 shares of company stock valued at $402,428.

Institutional Investors Weigh In On ODDITY Tech

Institutional investors and hedge funds have recently bought and sold shares of the business. Citigroup Inc. increased its stake in shares of ODDITY Tech by 220.4% in the third quarter. Citigroup Inc. now owns 228,786 shares of the company's stock valued at $14,253,000 after purchasing an additional 157,374 shares during the period. Bamco Inc. NY increased its stake in shares of ODDITY Tech by 11.3% in the third quarter. Bamco Inc. NY now owns 1,376,781 shares of the company's stock valued at $85,773,000 after purchasing an additional 139,348 shares during the period. Baillie Gifford & Co. increased its stake in shares of ODDITY Tech by 17.8% in the fourth 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 during the period. Granahan Investment Management LLC increased its stake in shares of ODDITY Tech by 11.1% in the third quarter. Granahan Investment Management LLC now owns 1,506,457 shares of the company's stock valued at $93,852,000 after purchasing an additional 151,110 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in shares of ODDITY Tech in the third quarter valued at approximately $1,532,000. Institutional investors and hedge funds own 35.88% of the company's stock.

Key Headlines Impacting ODDITY Tech

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

• Neutral Sentiment: KeyCorp reaffirmed its sector weight rating on ODDITY Tech, signaling a cautious but unchanged view on the stock. Benzinga report on KeyCorp rating
• Neutral Sentiment: Truist lowered its price target on ODDITY Tech from $18 to $12 and kept a hold rating, reflecting reduced expectations after the earnings update. Benzinga report on Truist price target cut
• Negative Sentiment: The Q1 earnings call and related coverage highlighted ad shock, weaker sales trends, and higher customer acquisition costs, all of which are pressuring sentiment on the stock. TipRanks earnings call article
• Negative Sentiment: Management also issued Q2 revenue guidance of $168.8 million to $180.9 million, below Wall Street’s roughly $192 million expectation, reinforcing worries about near-term growth. Company earnings release

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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