ODDITY Tech (NASDAQ:ODD) Price Target Raised to $78.00

Key Points

• Truist Financial has raised the price target for ODDITY Tech from $65.00 to $78.00, suggesting a potential upside of 12.19% from the company's previous close.
• Bank of America recently increased its price target on ODDITY Tech from $68.00 to $80.00, while several other firms updated their ratings, signaling positive analyst sentiment.
• ODDITY Tech reported quarterly earnings of $0.69 per share, surpassing estimates, alongside a year-over-year revenue increase of 26.7% to $268.08 million.

ODDITY Tech (NASDAQ:ODD - Get Free Report) had its price objective upped by Truist Financial from $65.00 to $78.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's price target would indicate a potential upside of 8.79% from the company's previous close.

Several other research analysts have also commented on ODD. Barclays boosted their price target on ODDITY Tech from $60.00 to $73.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Bank of America boosted their price target on ODDITY Tech from $68.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. JPMorgan Chase & Co. boosted their price target on ODDITY Tech from $63.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. KeyCorp boosted their price target on ODDITY Tech from $65.00 to $90.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Finally, JMP Securities reissued a "market outperform" rating and issued a $66.00 price target on shares of ODDITY Tech in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $71.75.

ODDITY Tech Stock Performance

NASDAQ ODD traded up $1.63 on Tuesday, reaching $71.70. 2,086,241 shares of the stock traded hands, compared to its average volume of 888,217. The company has a fifty day moving average price of $72.45 and a 200-day moving average price of $56.37. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 41.21, a PEG ratio of 3.26 and a beta of 3.27. ODDITY Tech has a 12 month low of $32.71 and a 12 month high of $79.18.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.06. The business had revenue of $268.08 million during the quarter, compared to analyst estimates of $260.71 million. ODDITY Tech had a return on equity of 30.67% and a net margin of 15.12%. ODDITY Tech's revenue was up 26.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 EPS. As a group, research analysts anticipate that ODDITY Tech will post 1.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ODD. WD Rutherford LLC acquired a new position in ODDITY Tech during the 2nd quarter valued at about $48,000. Deutsche Bank AG grew its stake in ODDITY Tech by 65.0% during the 1st quarter. Deutsche Bank AG now owns 1,340 shares of the company's stock valued at $58,000 after purchasing an additional 528 shares during the last quarter. Wells Fargo & Company MN grew its stake in ODDITY Tech by 17.6% during the 4th quarter. Wells Fargo & Company MN now owns 2,999 shares of the company's stock valued at $126,000 after purchasing an additional 449 shares during the last quarter. Federated Hermes Inc. purchased a new stake in ODDITY Tech during the 1st quarter valued at about $190,000. Finally, Blair William & Co. IL purchased a new stake in ODDITY Tech during the 2nd quarter valued at about $204,000. 35.88% of the stock is owned by institutional investors and hedge funds.

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.