Oddity Tech (NASDAQ:ODD) Reaches New 12-Month High - Still a Buy?

Shares of Oddity Tech Ltd. (NASDAQ:ODD - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $73.00 and last traded at $71.35, with a volume of 737193 shares traded. The stock had previously closed at $69.65.

Wall Street Analysts Forecast Growth

ODD has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Oddity Tech from $56.00 to $50.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. The Goldman Sachs Group upped their target price on shares of Oddity Tech from $47.00 to $52.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Bank of America upped their target price on shares of Oddity Tech from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Truist Financial upped their target price on shares of Oddity Tech from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, KeyCorp lowered their target price on shares of Oddity Tech from $52.00 to $50.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.63.

Oddity Tech Stock Performance

The stock has a market cap of $4.10 billion, a PE ratio of 44.83, a price-to-earnings-growth ratio of 1.48 and a beta of 3.44. The company's 50 day simple moving average is $53.49 and its 200 day simple moving average is $47.75.

Oddity Tech (NASDAQ:ODD - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.69 EPS for the quarter, beating 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 firm had revenue of $268.08 million during the quarter, compared to analyst estimates of $260.71 million. During the same quarter last year, the business posted $0.61 EPS. The company's revenue for the quarter was up 26.7% on a year-over-year basis. Equities research analysts expect that Oddity Tech Ltd. will post 1.62 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Penn Capital Management Company LLC purchased a new position in Oddity Tech in the 4th quarter valued at approximately $8,690,000. Susquehanna Fundamental Investments LLC bought a new stake in Oddity Tech in the fourth quarter worth $329,000. Wells Fargo & Company MN raised its stake in shares of Oddity Tech by 17.6% during the fourth quarter. Wells Fargo & Company MN now owns 2,999 shares of the company's stock valued at $126,000 after acquiring an additional 449 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Oddity Tech by 33.2% during the fourth quarter. Blue Trust Inc. now owns 6,437 shares of the company's stock valued at $260,000 after acquiring an additional 1,603 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Oddity Tech during the fourth quarter valued at about $9,470,000. 35.88% of the stock is owned by institutional investors.

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.