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 target price hoisted by research analysts at Truist Financial from $65.00 to $78.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's price objective indicates a potential upside of 12.19% from the company's previous close.

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

ODDITY Tech Price Performance

ODDITY Tech stock traded up $1.10 during mid-day trading on Tuesday, reaching $69.53. The company had a trading volume of 211,577 shares, compared to its average volume of 823,070. The stock's 50-day simple moving average is $72.18 and its 200-day simple moving average is $55.80. ODDITY Tech has a 1 year low of $32.71 and a 1 year high of $79.18. The company has a market capitalization of $3.88 billion, a P/E ratio of 39.96, a P/E/G ratio of 3.17 and a beta of 3.30.

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

Institutional Investors Weigh In On ODDITY Tech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sheets Smith Wealth Management raised its stake in ODDITY Tech by 1.5% in the first quarter. Sheets Smith Wealth Management now owns 20,792 shares of the company's stock valued at $899,000 after buying an additional 315 shares in the last quarter. Wells Fargo & Company MN raised its stake in ODDITY Tech by 17.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,999 shares of the company's stock valued at $126,000 after buying an additional 449 shares in the last quarter. California State Teachers Retirement System raised its stake in ODDITY Tech by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 31,401 shares of the company's stock valued at $1,319,000 after buying an additional 511 shares in the last quarter. Deutsche Bank AG increased its position in shares of ODDITY Tech by 65.0% during the first quarter. Deutsche Bank AG now owns 1,340 shares of the company's stock worth $58,000 after purchasing an additional 528 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of ODDITY Tech by 5.1% during the fourth quarter. American Century Companies Inc. now owns 12,334 shares of the company's stock worth $518,000 after purchasing an additional 593 shares in the last quarter. Institutional investors and hedge funds own 35.88% of the company's stock.

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.

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