Oddity Tech (NASDAQ:ODD) Reaches New 12-Month High After Strong Earnings

Shares of Oddity Tech Ltd. (NASDAQ:ODD - Get Free Report) reached a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $55.61 and last traded at $53.77, with a volume of 1167770 shares trading hands. The stock had previously closed at $47.13.

The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.06. Oddity Tech had a net margin of 16.32% and a return on equity of 29.02%. The company had revenue of $268.08 million during the quarter, compared to the consensus estimate of $260.71 million. During the same period in the previous year, the firm earned $0.61 earnings per share. Oddity Tech's revenue for the quarter was up 26.7% on a year-over-year basis.

Analyst Upgrades and Downgrades

ODD has been the topic of a number of recent research reports. Barclays boosted their price objective on Oddity Tech from $42.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. KeyCorp reduced their price target on Oddity Tech from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. JMP Securities restated a "market outperform" rating and issued a $66.00 price target on shares of Oddity Tech in a report on Tuesday, April 22nd. The Goldman Sachs Group lifted their price objective on shares of Oddity Tech from $47.00 to $52.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, Bank of America upped their target price on shares of Oddity Tech from $50.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Oddity Tech presently has an average rating of "Moderate Buy" and an average target price of $54.63.

Institutional Trading of Oddity Tech

A number of hedge funds have recently made changes to their positions in ODD. Janus Henderson Group PLC boosted its stake in Oddity Tech by 71.9% during the 4th quarter. Janus Henderson Group PLC now owns 846,281 shares of the company's stock valued at $35,539,000 after acquiring an additional 354,083 shares during the last quarter. Capital International Investors grew its stake in Oddity Tech by 29.5% in the fourth quarter. Capital International Investors now owns 1,365,744 shares of the company's stock worth $57,389,000 after purchasing an additional 311,401 shares in the last quarter. J. Goldman & Co LP increased its holdings in Oddity Tech by 322.5% in the fourth quarter. J. Goldman & Co LP now owns 307,375 shares of the company's stock valued at $12,916,000 after buying an additional 234,625 shares during the last quarter. Norges Bank acquired a new stake in Oddity Tech during the fourth quarter valued at approximately $9,470,000. Finally, Granahan Investment Management LLC lifted its holdings in Oddity Tech by 15.9% during the 4th quarter. Granahan Investment Management LLC now owns 1,538,198 shares of the company's stock worth $64,635,000 after buying an additional 211,485 shares during the last quarter. Institutional investors and hedge funds own 35.88% of the company's stock.

Oddity Tech Trading Down 1.0 %

The company has a market cap of $3.53 billion, a price-to-earnings ratio of 38.57, a price-to-earnings-growth ratio of 1.48 and a beta of 3.73. The firm has a 50-day moving average price of $44.56 and a 200 day moving average price of $44.13.

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.